Swire Pacific (HKG:0019, HKG:0087) is spinning off beverage wing ThaiNamthip, which will be listed separately on The Stock Exchange of Thailand, a Tuesday filing with the Hong Kong exchange said.
ThaiNamthip has submitted applications to the Securities and Exchange Commission of Thailand, as well as the country's bourse, for its listing on the bourse and the public offering of its shares.
Conglomerate Swire Pacific has received approval for the spinoff from the Hong Kong bourse.
ThaiNamthip engages mainly in preparing, packaging, distributing, and selling non-alcoholic ready-to-drink beverages bearing trademarks owned by The Coca-Cola Company in 63 provinces in Thailand and in Laos.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.