Brewing group Thai Beverage on Tuesday requested for a trading halt on its shares pending the release of an announcement.
The company did not dislcose the details of the announcement.
Thai Beverage, Anheuser-Busch InBev and Kirin Holdings are preparing to bid for a stake in Vietnam's largest brewer, Sabeco, Reuters reported on Sunday.
The auction of up to 54 percent of Sabeco for $5 billion by the government opens this week, the report said citing people familiar with the matter.
Sabeco is seen as attractive as assets are scarce in a highly consolidated global beer market.
Thai Bev, controlled by tycoon Charoen Sirivadhanabhakdi, is shaping up as a strong contender, the report said, as it is familiar with the Vietnam system and sees Sabeco as key to expanding outside its home market.
Shares in Thai Beverage were up 0.6 percent at S$0.95 on the Singapore Exchange before the trading halt. The stock has gained 16 percent in an year.