Thai Beverage is evaluating strategic proposals, including a potential listing of its beer business, the Chang beer maker said in a filing to SGX after the exchange queried unusual trading activity in its shares.
“Discussions on such strategic projects are still at exploratory or early stages and ThaiBev wishes to emphasize that there is no certainty or assurance that any such transactions will occur,” Thai Beverage said.
Shares of Thai Beverage had jumped as much as 5.20 percent intraday Friday in strong volume.
The sharp movement triggered an SGX query and spurred the company to request a trading halt.
That followed a Bloomberg report, which cited people with knowledge of the matter, that ThaiBev was speaking with advisers about the potential listing of the brewery business, which would likely be Singapore’s largest listing in nearly a decade.
Thai Beverage has requested the trading halt on its shares be lifted, effective Monday.