The potential listing of BeerCo, a subsidiary of Thai Beverage (ThaiBev) will be deferred “for the time being”.
According to an announcement put out by ThaiBev, the decision to defer the potential proposed spin-off listing of BeerCo on the Singapore Exchange (SGX) is due to the current “uncertain market conditions” and volatile outlook, which “are not conducive” for the proposed spin-off listing.
“ThaiBev continues to believe that BeerCo's position as one of the leading beer players in Southeast Asia and its growth potential offer a distinct and compelling growth story,” says the group in an April 16 statement.
“ThaiBev will closely monitor the market conditions, evaluate and explore opportunities to maximize shareholders’ value. The proposed spin-off listing will be reviewed at the appropriate time,” it adds.
Shares in ThaiBev closed 0.5 cent lower or 0.7% down at 74.5 cents on April 16.