ThaiBev resumes listing plans for beer business spinoff on SGX-ST mainboard
Once materialised, the listing is expected to improve ThaiBev's financial position.
ThaiBev has announced that it will resume its plans to list its beer business spinoff on the Singapore Exchange Securities Trading Limited (SGX-ST) mainboard following a no-objection letter from the bourse.
The spinoff is currently held by ThaiBev's indirect wholly-owned subsidiary, BeerCo.
In connection with the listing, ThaiBev's wholly-owned subsidiary, International Beverage Holdings Limited, will conduct a public offering of up to approximately 20% of the total number of issued ordinary shares of BeerCo.
International Beverage Holdings Limited holds all of the issued ordinary shares of BeerCo.
The listing is expected to improve the financial position of the ThaiBev Group and increase its financial
flexibility to grow its other business segments.
In particular, the beverage company said they and their subsidiaries could use par of the process generated from the offering "to inter alia repay interest-bearing debt.
The listing will likewise benefit the group's shareholders as it can "provide a transparent valuation benchmark for
the spin-off business under the BeerCo Group and will allow the core businesses of
the ThaiBev Group to be assessed and valued more distinctly."