Thailand's largest brewer prepares its listing in Singapore

Thailand's largest brewer, Thailand Beverage Public Company Limited (ThaiBev) which scrap its plans to list in the Bangkok Stock Exchange has lodged preliminary prospectus to launch its share in Singapore. The company plans to offer up to 4.88 billion of new and vendor shares at between 26 to 36 Singapore cents per share. This share offering looks set to be one of Singapore's largest. ThaiBev which is controlled by possibly Thailand's richest tycoon, Charoen Sirivadhanabhakdi, reported a US$2.24 billion sales in FY2005 and total net profits of US$255.5 million. This would translate to an earnings per share of US$0.01.

ThaiBev plans to use the net proceeds of this share offering to repay its outstanding loans as well as to expand its reach across Asia. It has set its sights into expanding to China, India and South East Asia.