![]() The company behind Chang beer was seeking to raise $1 billion from the IPO, which would have been Singapore’s biggest since NetLink NBN Trust’s $1.7 billion offering in 2017, according to data compiled by Bloomberg. In August the firm deferred its third attempt at a Singapore IPO of its brewery unit, citing “prolonged challenging market conditions” in a stock exchange filing. The plans come amid ThaiBev’s struggles to bring a separate unit to market. No concrete plans have been made in respect of a listing or sale of the spirits business, the company said. ThaiBev continually evaluates opportunities to optimize is businesses and regularly engages with advisers and banks, the company said in a stock exchange filing late Thursday. There is no certainty that ThaiBev will proceed with a deal for the spirits business, the people said. One person familiar with the matter estimated a deal could give it a value of at least $5 billion, while another pegged its worth at more than $10 billion. The firm controlled by Thailand’s richest man has held initial discussions with banks on alternatives including selling a stake in the maker of the country’s best-selling liquor brands Mekhong and Ruang Khao, said the people, who asked not to be identified as the process is private.ĭeliberations are at an early stage and no final decisions about the spirits business’s valuation have been made, the people said. In New York City, a $100,000 Salary Feels Like $36,000īanks Borrow $164.8 Billion From Fed in Rush to Backstop Liquidity How First Republic Bank Received a $30 Billion Lifelineįirst Republic Set to Get $30 Billion of Deposits in Rescue Schwab Clients Shift From Prime Funds to Government Portfolios (Bloomberg) - Thai Beverage Pcl is exploring options for its spirits business including an initial public offering in Singapore, according to people with knowledge of the matter.
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