SHARES of Thai Beverage Public Co (ThaiBev) gained 1.7 per cent or 1.5 Singapore cents as at 11.07am on Tuesday to trade at 87.5 Singapore cents as a Religare report speculated about a potential restructuring of the Chang beer brewer.
Religare analyst Nirgunan Tiruchelvam raised his target price for the stock to S$1.10 from 76 Singapore cents on a 50 per cent probability that ThaiBev parent TCC will restructure its holdings in ThaiBev, food and beverage (F&B) company Fraser & Neave (F&N) and property developer Frasers Centrepoint Limited.
Mr Tiruchelvam reckoned that in a restructuring, F&N will be split to separate its F&B business from its other businesses, namely publishing. The F&B business will then be inj…
Read the full article at: http://www.businesstimes.com.sg/companies-markets/brokers-take-religare-raises-expectations-of-thaibev-restructuring