12 August, 2005

Thailand: The Buddhist monks’ and anti-alcohol campaigners’ protests made the listing of Thai Beverages to be postponed

The Thailand's Finance Minister Thanong Bidaya has for an indefinite period postponed the stock exchange listing of major brewer, Thai Beverages Radio Australia broadcasted on August 10.

The producer of the country's best-selling Chang Beer and a top-selling whisky, had planned to raise more than $US1 billion in April in what could have been the country's largest initial public offering.

Immense protests by thousands of Buddhist monks and anti-alcohol campaigners initially caused the listing to be postponed. But after a review by regulators the brewer last month filed to list on the Stock Exchange of Thailand.

The finance minister, who took up his post only a week ago, now says he needs more time to study the matter. Adversaries of the listing warn that Thai road deaths would rise because of increased cases of drunk driving.

Înapoi

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