Thailand’s largest food and beverage company Thai Beverage will apply for an initial public offering (IPO) of its common shares with the Stock Exchange of Thailand (SET) on November 21 despite protest of anti-drinking groups.

ThaiBev’s assistant vice president for corporation communication Anuchit Jureegasa said the company was given a green light from the Securities and Exchange Commission for the listing.

ThaiBev plans to sell 80 million common shares to the public. The company has declined to release details of a price range.

Mr. Anuchit said the company is likely to get approval by the SET as there is no sign of objection from SET regulators.

ThaiBev had scraped its plan to list on the SET in 2005 in suppress to public resistance. The company had filed a listing with the Singapore Exchange instead.

Vichate Tantiwanich, SET executive vice president, told Bloomberg last week that the listing should be proceeding and the shares could probably be sold next month.

He said the listing plan has drawn fewer protesters this time, because it does not involve in raising a lot of money.

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   Posted by Allison Sellers | November 20, 2008, 4:22 pm