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Thai Beverage Added to Benchmark Straits Times Index
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Feb 08, 2007
Thai Beverage Public Limited Company (ticker: THBEV), Thailand's leading alcoholic beverage company, will become part of the Straits Times Index (STI) as of 5 February 2007, Singapore Press Holdings, which runs the index, has announced. Mr. Thapana Sirivadhanabhakdi, Executive Vice President of Thai Beverage Plc, said, "I am very pleased and proud that only eight months after our initial public offering on 30 May 2006, Thai Beverage has been added to this prestigious benchmark for stocks listed on the Singapore Exchange, or SGX.
"Thai Beverage's listing in Singapore was the largest in ten years. We commenced with a commitment to the SGX that we would not just meet, but surpass its expectations. Since then, we have focused very much on disclosure and transparency; the result being tremendous interest in our stock, with volumes averaging up to 25 million shares per day since listing," he said.
"Our strategy has been to paint a realistic picture of the company; its market leadership in Thailand and portfolio of quality products, leading to steady and forecastable growth. This positioning combined with the continuous flow of information to the market, I believe, is why investors feel confident holding our stock," Thapana said.
About the Straits Times Index
Set up by Singapore Press Holdings, the Singapore Exchange and Professor Tse Yiu Kuen from the Singapore Management University, in 1998, the STI is a market value-weighted stock market index based on the stocks of 50 representative companies listed on the Singapore Exchange. The main criteria used to decide the addition of Thai Beverage were the liquidity of its stock, which has had average daily trading of 25 million shares since the company's IPO on 30 May 2006; the company's market capitalization, which is approximately S$6.5 billion, or 155.4 billion Baht, and its free float, which is 22.12%. Thai Beverage has 25.110 billion shares outstanding.
