Singapore-listed Thai Beverage (ThaiBev) has said it will again defer the spin-off and initial public offering (IPO) of its regional beer business, BeerCo, due to recent market volatility.
The beverage maker cited “prolonged challenging market conditions” as the reason for postponing the spin-off, which was originally planned for early 2020.
The firm, chaired by one of Thailand’s richest people, Charoen Sirivadhanabhakdi, added that it will review the spin-off and listing when market conditions permit.
Reuters had reported in May that ThaiBev was looking to raise as much as US$1 billion by selling up to a 20% stake in BeerCo. (NNT)