SINGAPORE (Nov 29): Thai Beverage is considering an initial public offering of its brewery business in what could be the biggest listing in Singapore in close to a decade, people with knowledge of the matter said. Shares of the company surged.

The acquisitive drinks maker controlled by Thailand’s richest man is speaking with potential advisers about the listing and may seek to value the unit at as much as US$10 billion ($13.7 billion), according to the people, who asked not to be identified because the information is private.

Shares rose as much as 5.2%, the most in over three months, amid heavy trading volume in Singapore on the news.

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