ThaiBev clarifies not selling Vietnam business; IPO process in early stages

THAI Beverage Public Company (ThaiBev) has clarified that it is not seeking a buyer for its business in Vietnam.

In a regulatory filing on Wednesday, the company said that claims made in recent international and Vietnamese media articles about the potential sale are "false and without merit".

ThaiBev noted that it is confident in its business in the South-east Asian country, which continues to be one of its core markets and is integral to its goal of becoming a leader in the region's beverage industry.

The group is mulling a potential Singapore listing of some of its regional beer assets, as announced in November, although the process is in its early stages, ThaiBev said on Wednesday. There is no certainty or assurance that any such transaction will take place, it added.

Reuters reported last month that this initial public offering (IPO) could include ThaiBev's beer assets in Thailand and Vietnam.

ThaiBev shares closed flat at 89.5 Singapore cents on Wednesday, before the announcement.