Thailand: ThaiBev Considers Sale of Beer Unit via IPO or Partnership

Thai Beverage (ThaiBev), headquartered in Bangkok/Thailand and one of Southeast Asia's largest beverage companies, is considering the sale of its beer division either through an initial public offering (IPO) on Singapore Exchange (SGX) or by bringing in an equity partner, according to company executives.
 

Michael Chye, head of the beer products group, revealed that the IPO could take place as soon as the third quarter of next year, contingent on a decision by December. Chye noted that the company is seeking to capitalize on a rebound in global stock markets, alongside declining interest rates worldwide. The company previously shelved plans to raise up to USD 1 billion in an IPO two years ago due to unfavorable market conditions (inside.beer, 5.5.2022).

ThaiBev's CEO, Thapana Sirivadhanabhakdi, stated that there is strong interest from potential partners for the beer unit. The company is reportedly in talks with two potential investors. However, it remains unclear whether a partnership will still proceed if the IPO moves forward.
 

ThaiBev's renewed focus on a possible sale comes at a time of global market recovery, and the company is carefully weighing its options to maximize value. In addition to its beer division, known through beer brands like Chang, Archa, Federbräu, Saigon Beer (Saigon Special, Saigon Lager),  and 333 Beer, the firm is also reportedly exploring opportunities for its spirits business, including a potential IPO or selling a stake in the maker of its top-selling liquor brands, Mekhong and Ruang Khao.

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