Thai Beverage said on Tuesday that it incorporated two new subsidiaries in Thailand with its associated company F&N for the purpose of investment management.
The first subsidiary is F&N International Holding, or FNIH, with a registered capital of 10 million Thai baht (S$426,450 or US$315,657), consisting of 1 million shares at a par value of 10 baht, ThaiBev said in a filing to SGX after the market close on Tuesday.
Green Bean, an indirect wholly owned subsidiary of ThaiBev, will hold 51 percent of FNIH, while Fraser and Neave (F&N) holds 48.9999 percent and Inter F&B, which is a subsidiary of F&N, owns 0.0001 percent, the filing said.
The second subsidiary, F&N Retail Connection, or FNRC, has registered capital of 18 million baht, consisting of 1.8 million shares with a par value of 10 baht, ThaiBev said.
FNIH will hold 51 percent of FNRC, while Inter F&B holds 48.9999 percent and F&N holds 0.00001 percent, it said.
The controlling shareholders of ThaiBev have an aggregate majority stake in F&N and have some common directors, the filing said.
