ThaiBev’s beer IPO could prove to be Asean bellwether

Thai Beverage, better known as ThaiBev and the producer of Chang beer, recently confirmed its intentions to spin-off its beer business onto the Singapore Exchange. Local media sources citing people familiar with the matter have suggested the deal should draw between $2 billion to $3 billion, which would represent Singapore’s largest IPO since 2011 when Hutchinson Port Holdings Trust raised $5.5 billion.