However, the timing will depend on market conditions, and noted that long-standing social concerns about alcohol-related listings have eased significantly. ThaiBev listed on the SGX back in 2006 amid then domestic opposition.
DBS Group Research has maintained its "buy" call and 62 cents target price on Thai Beverage, after reports that it may list its spirit business in its home market Thailand "as early as this year".
According to the Bangkok Post, citing Kitipong Urapeepatanapon, chairman of the Stock Exchange of Thailand, ThaiBev may list the spirit business rather than the holding company given that its corporate structure is already in place.
