BANGKOK: Thai Beverage Pcl is planning to lodge a filing to list its brewery unit on the Singapore stock exchange as soon as this week, people familiar with the matter said, paving the way for what could be the biggest initial public offering (IPO) in the city-state in a decade.
The drinks maker plans to seek a valuation of about US$10bil for the unit, said the people, who asked not to be identified as the information is private. A listing in the South-East Asian nation could happen as soon as the second quarter, one of the people said.
ThaiBev is working with its appointed advisers toward a possible listing, the company said Thursday in a statement to the Singapore exchange. There is no assurance that any listing will occur, and details remain subject to finalisation, the company wrote.
Shares in ThaiBev rose on Thursday after the Bloomberg News report, closing up 2.5% and reaching their highest level since February last year.
...