31 March, 2006

Thailand: Thai Beverage didn’t applied to list on the Singapore Stock Market

Thai Beverage didn’t applied to list on the Singapore stock market while awaiting consideration of its application to list on the Thai market, a Krungthep Turakij report announced on March 28.

Thai Beverage applied to make an IPO of up to six billion shares on the Stock Exchange of Thailand . The IPO has not yet been approved because of opposition by religious groups that do not want alcoholic beverage manufacturers to be allowed to raise money through the stock market.

Thai Beverage executives suggested that they would consider applying to list the company on the Singapore stock market instead, but at present they have not yet applied. They will wait to hear the final decision of the Thai authorities first.

In 2005 Thai Beverage announted net profits of 10.409 billion baht, or 0.47 baht a share, down slightly from 2004 when the company made net profits of 10.417 billion baht.

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