Protests by Buddhist monks have led to the indefinite postponement of listing of Thai Beverages, Thailand’s largest brewer, on the nation’s stock market. The monks staged their protest because of fears of growing alcohol consumption in Thailand.

Opponents to the listing claim that alcohol is against Buddhism, Islam, and traditional Thai culture, and that Thailand is already “an ill society already damaged by excessive alcohol consumption.”

Listing of the shares was expected to raise more than $1 billion for Thai Beverages, which would have made it the largest float in Thailand history. There are currently no brewers listed on the Thai bourse.