While GA Singapore managing director Terence Foo declined to comment on the news, it is believed that the agency took the account following a multi-agency pitch.
The formal roadshow launched on May 8 for the IPO, expected to price between US$809 million to $1.12 billion. The listing was initially planned for last year in Bangkok, but was postponed following protests by Thailand's religious lobby.
The formal roadshow launched on May 8 for the IPO, expected to price between US$809 million to $1.12 billion. The listing was initially planned for last year in Bangkok, but was postponed following protests by Thailand's religious lobby.
Thai Beverage is Thailand's largest alcoholic beverage player, owning the iconic Chang beer brand, along with Mekhong Whiskey, Sangsom rum and Ruang Khao.
According to a report in FinanceAsia, if Thai Beverages prices stay at the top end of the offer range, it could become the largest Singapore IPO since SingTel's $1.5 billion listing in 1993. Thai Beverage is believed to be positioning itself to investors based on a robust Thai domestic economy, strong cashflow and a decent yield. The company's growth prospects are also solid, after it launched the high-margin Chang Light brand earlier this year.
