Thai Beverage said to plan SG IPO of beer assets to raise up to $3b

Billionaire Charoen Sirivadhanabhakdi, chairman of Thai Beverage Pcl, speaks with guests as he attends a charity event in Bangkok, Thailand, on Wednesday, Oct. 15, 2014. Photographer: Dario Pignatelli/Bloomberg

Thai billionaire Charoen Sirivadhanabhakdi’s Thai Beverage (TBEV.SI) is planning a Singapore IPO of some of its regional beer assets in a float that could raise $2 billion to $3 billion next year, a source familiar with the matter said on Friday.

The Singapore-listed company has tapped banks for the listing of a unit which could house its beer assets in Vietnam and Thailand, a source said on condition of anonymity as he was not authorized to speak to the media. Details of the fund raising have not been finalised, he said.

Thai Bev’s shares were put on a trading halt pending an announcement after the stock rose 5.2 percent.

A Singapore IPO of just over $2 billion would make it the biggest in the city-state in about six years, while an issue of more than $3 billion would rank as the largest since 2010, according to Refinitiv data.

Thai Bev did not immediately respond to a query from Reuters.

Citing unnamed sources, Bloomberg earlier reported that ThaiBev is said to consider a Singapore IPO of its brewery business that could value its unit at as much as $10 billion.

Reuters

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

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  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.