Thai Beverage is reviving plans to list its beer unit BeerCo, while Singapore-based furniture retailer HomesToLife, which was formerly listed on SGX, is looking to raise $5m in its Nasdaq IPO.
ThaiBev revives IPO plan for BeerCo
Thai Beverage (ThaiBev) is reviving plans for an initial public offering of its beer unit BeerCo, besides considering roping in an equity partner, Bloomberg reported on Wednesday.
The IPO for ThaiBev’s beer unit could happen as soon as the third quarter of next year if a decision on the share sale is made by December, according to Michael Chye, head of the beer products group.
Meanwhile, Thapana Sirivadhanabhakdi, CEO of Singapore-listed ThaiBev, disclosed to Bloomberg that the company has attracted significant interest from potential partners and is currently in discussions with two of them. Thapana did not clarify whether the company would proceed with bringing in a partner if the IPO occurs.
In 2022, ThaiBev postponed its plan to raise $1 billion through the Singapore IPO of its regional beer business but the plan was called off due to market volatility. The beverage maker cited “prolonged challenging market conditions” as the reason for postponing the IPO, which was originally planned for early 2020.
ThaiBev is controlled by tycoon Charoen Sirivadhanabhakdi. BeerCo’s comprises Thai Bev’s brewing operations in Thailand and Vietnam.
HomesToLife looks to raise $5m from Nasdaq IPO
Singapore-based furniture retailer HomesToLife has priced its 1.3 million ordinary shares for its initial public offering (IPO) at $4 per share.
HomesToLife offered 1.25 million ordinary shares in its IPO, which began trading under the ” HLTM ” ticker on October 1 and will close on October 2, subject to customary closing conditions.
The company was previously listed on the Singapore Exchange (SGX) mainboard since 1993.
HomesToLife has also granted the underwriter a 45-day option to purchase up to an additional 187,500 shares at the IPO price, excluding underwriting discounts and commissions.
The company expects to raise $5 million in gross proceeds from the IPO, with plans to allocate $2.3 million to new stores in Singapore, Taiwan, Korea, Indonesia, and Malaysia.
Additionally, $700,000 will be used for sales and marketing, while the remaining funds will be allocated for IT purposes. HomesToLife has a wholly-owned subsidiary in Singapore, operating six retail locations.
