Singapore: Heineken raise stake in Asia Pacific Breweries Ltd by purchasing additional 22,000 shares

Heineken and its partner Fraser & Neave Ltd (F&N) continued to raise their respective stakes in Asia Pacific Breweries Ltd (APB) after profits of the brewer of Tiger beer jumped, Forbes said August 15.

Heineken said it purchased an additional 22,000 shares of APB, slightly lifting its direct interest to 9.53 pct from 9.52 pct. Separately, F&N said it also bought an additional 4.68 million shares of APB for SG$74.2 million, bringing its direct interest in the company to 7.28 pct from 5.46 pct previously.

The partners' direct interest in APB is on top of their deemed interest held through equally-owned Asia Pacific Investment Pte Ltd, which owns 65 pct of APB.

The latest share purchases come after APB reported last week that its net profit for the three months to June rose to SG$27.71 million from SG$20.40 million a year ago.

F&N and Heineken had in recent months been buying APB shares in the open market, sparking speculation that APB may be taken private.

But F&N has said that “it is the intention of the company that APB remains a listed company.”

August 15, at 2.47 pm, APB was up SG$0.50 or 3.43 pct at 15.10 with 552,000 shares traded.