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Thai Beverage (ThaiBev) has decided to defer again its plan to list its brewery unit, BeerCo, in Singapore for the second time as volatile markets continue to crimp investor demand for new shares.
ThaiBev had deferred the IPO last year, citing the pandemic and market volatility. It planned to raise up to US$1 billion in the IPO.
For the 9 months ended June 2022, ThaiBev however reported strong year-on-year 8.2% growth in sales to US$5.91 billion due to strong beer and spirit sales. ThaiBev owns Thailand’s Chang beer brand, as well as a majority stake in Vietnam brewer Saigon Beer Alcohol Beverage Corp., or better known as Sabeco.
