Activists against ThaiBev’s listing disperse

Written by Writer on Tuesday, October 28th, 2008

Activists against ThaiBev’s listing disperse

About 200 anti-alcohol protesters dispersed after gathering at the Stock Exchange of Thailand (SET) Monday morning to oppose the second attempt of ThaiBev to be listed on the Thai bourse, amid tightened police security.

Kamron Chudecha, a coordinator of the group, submitted a letter to executives of the Stock Exchange of Thailand (SET) opposing the listing of the company, Thailand’s biggest brewery and distiller, producer of Beer Chang, saying that alcoholic drinks cause damage to economy, society, and the public’s health.

The protesters said they wanted the SET to show its responsibility to society, while reaffirming their intention to continue their protest to the end.

SET assistant vice president Naree Boontheravorn received the letter from the protesters, saying the Thai bourse will later consider the listing of ThaiBev if the Securities and Exchange Commission (SEC) approves the filing by ThaiBev, which reapplied for the listing last week.

The SEC has a 30-day timeframe for consideration of the application, beginning last Wednesday. ThaiBev plans to have the listing completed by the end of this year.

The company failed to be listed on the Thai stock market in 2005 due to large-scale protesting. The company opted instead for listing on the Singapore Stock Exchange in May 2006. (TNA)

Bangkok Post
Monday October 27