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Bottles of Sabeco’s Saigon beer are seen at a restaurant bar in Hanoi, Vietnam, December 18, 2017. Photograph by Reuters/Kham
Singapore-listed Thai Beverage TBEV.SI is trying to increase as a lot as $1 billion by way of the revived Singapore preliminary public providing (IPO) of its regional beer enterprise this yr, two sources acquainted with the matter stated on Thursday.
The dimensions of the potential fundraising has been halved from a yr in the past due to the impression of the Covid-19 pandemic and decreased market valuations, stated the sources who declined to be recognized as they weren’t licensed to speak to the media.
ThaiBev, the maker of Chang lager, declined touch upon the funding quantity.
Managed by tycoon Charoen Sirivadhanabhakdi, ThaiBev is one among Southeast Asia’s largest makers of drinks.
Earlier on Thursday, the corporate stated in a regulatory submitting that it had re-started work to checklist its regional beer unit, BeerCo, and would look to promote as much as a 20 p.c stake by way of the Singapore IPO.
A 3rd supply acquainted with the matter stated ThaiBev might find yourself elevating about $800 million, including that the launch of the IPO was topic to market circumstances.
A profitable IPO would mark one of many largest listings on the Singapore bourse in years.
BeerCo, which includes Thai Bev’s brewing operations in Thailand and Vietnam, had initially deliberate a list in early 2020 however that was derailed by the outbreak of the pandemic.
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