Thai Beverage (ThaiBev)

ThaiBev to take Chang Beer public for over $2 billion despite Thailand’s economic woes

Thai Beverage is preparing to take its brewery business public on the Singapore Exchange in an IPO that could raise over US$2 billion. The firm behind Chang Beer is one of Thailand’s largest conglomerates and the IPO represents a stark contrast as the country’s economy struggles with the impacts of the pandemic and rising wealth inequality.