BANGKOK, April 17 (Reuters): Thai Beverage has announced that it was postponing the plan to sell a 20% stake in its regional beer business through a $2 billion Singapore listing, citing a volatile and uncertain outlook aggravated by a worsening Covid-19 pandemic.
The spin-off by the company, controlled by one of Thailand's richest men, was set to be the largest initial public offering in the city-state in nearly a decade. In January, Reuters had reported that the IPO could raise about US$2 billion.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!