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ThaiBev Drops After Brewery Unit’s IPO Plans Deferred Once Again

  • Shares of the beer maker fall as much as 4.4% in Singapore
  • ThaiBev had sought to get $1 billion in brewery unit’s listing
A worker at a ThaiBev brewery in Thailand.
A worker at a ThaiBev brewery in Thailand.

Photographer: Dario Pignatelli/Bloomberg

Updated on

Shares of Thai Beverage Pcl. slumped after the company deferred the initial public offering of its brewery unit in Singapore once again, citing “prolonged challenging market conditions” for its decision.

The maker of Chang beer fell as much as 4.4%, the biggest decline in more than a year. It said on Thursday it will continue to monitor market conditions and explore opportunities to maximize shareholder value, including potentially reviewing the proposed spin-off listing “at an appropriate time”.