Thai Beverage shares at record high after truce with Heineken

SINGAPORE (Reuters) - Shares of Thai Beverage PCL (TBEV.SI) jumped as much as 20 percent to a record on Wednesday after the brewer agreed to support the sale of Fraser and Neave Ltd's (FRNM.SI) stake in Asia Pacific Breweries APBB.SI to rival Heineken NV (HEIN.AS).

As of 0357 GMT, Thai Beverage shares were up 17.4 percent at S$0.405, with over 112.5 million shares traded. That was 2.5 times the stock's average daily volume over the last five sessions.

Thai Beverage is F&N's biggest shareholder.

(Reporting by Charmian Kok; Editing by Ryan Woo)