The company, which wants to raise funds to expand abroad as competition increases in its domestic market, will begin marketing the public offering to international investors in May, three bankers involved in the sale told Bloomberg.

The news comes more than a year after the first protests took place against a listing in Thailand. Among those groups opposing the plan were thousands of Buddhist monks who demonstrated outside the Thai Stock Exchange in February and August last year, out of concern that the listing would present "a grave threat to the health, social harmony and time-honored ethics of Thai culture".

Other opposition groups said they were concerned about growing alcohol consumption in the country, citing World Health Organisation data showing that the average Thai aged 15 or older consumed 46 per cent more alcohol in 2000 than in 1995.

In response, the stock exchange said it would postpone indefinitely a decision on whether or not to allow the IPO to go ahead.

Thai Beverage, owned by the country's wealthiest individual, Charoen Sirivadhanabhakdi, plans to raise between US$900million and US$1billion in its listing in Singapore, according to the sources cited in the report.

They asked not to be identified because an announcement has not been made, it said.