ThaiBev sells 20% stake in regional beer business in SGX listing

The shares would be sold by its indirect wholly owned subsidiary BeerCo Limited.

Thai Beverage Public Company Limited will be conducting a public offering of up to 20% of the total number of issued ordinary shares of its indirect wholly owned subsidiary BeerCo Limited.

This comes after the company's announcement last 28 January of the potential listing of the beer businesses of ThaiBev’s "spin-off business".

Recently, ThaiBev has received a no-objection letter from Singapore Exchange Securities Trading Limited in relation to the proposed spin-off listing.

According to the company announcement, following the completion of an internal restructuring within the company in 2020, the spin-off business is held by BeerCo to substantially streamline and consolidate the ThaiBev Group's beer business and operations in the subsidiary, except for the sale of Thai beer products outside Thailand.

In the financial year ended 30 September 2020, BeerCo’s revenue was at $4.7b, with profit after tax estimated at $348m.

Visit Singapore Business Review website for other stories.

Your rating: MagBe