Singapore-listed Thai Beverage said on Thursday it will again defer the spin-off and initial public offering (IPO) of its regional beer business, BeerCo, due to recent market volatility. The firm, chaired by one of Thailand's richest people Charoen Sirivadhanabhakdi, added it will review the spin-off and listing when market conditions permit. ThaiBev was looking to raise as much as $1 billion, Reuters had reported in May, citing sources, by selling up to a 20% stake in BeerCo.
Restaurants Development Company is exploring the sale of its KFC franchise business in Thailand, valued at roughly $300 million, as revenue rebounds with a recovery in Southeast Asia's second-largest economy, three sources aware of the matter said. The Bangkok-based firm, backed by a consortium led by Southeast Asian focused private equity firm AIGF Advisors Pte Ltd, is in talks with at least one advisor on the potential sale, said the sources, who asked not to be named as they were not authorised to speak to the media.
Singapore-listed Thai Beverage is looking to raise as much as $1 billion through the revived Singapore initial public offering (IPO) of its regional beer business later this year, two sources familiar with the matter said on Thursday. Earlier on Thursday, Thai Bev, the maker of Chang beer, said in a regulatory filing that it had re-started the process to list its regional beer unit, BeerCo, and would look to sell up to a 20% stake through the Singapore IPO.