PURPOSE: To obtain the subject compd. useful as an adhesive in the lacquer industry in high purity without generating a byproduct, when allyl halide and a polyhydroxy compd. are reacted in the presence of a catalyst in a solvent, by performing reaction in the presence of a specific base.

CONSTITUTION: A compd. capable of being converted to a compd. having pkb of 4 or more as a base and containing a monovalent anion and capable of being liberated from a reaction system under a reaction condition, especially pref., a compd. containing a monovalent anion selected from HCO3-, HS- or HSO3- and a paired ion selected from an alkali metal cation or an alkaline earth metal cation is used and allyl halide represented by the formula (wherein R is a hydrocarbyl group; and X is halogen) and a polyhydroxy compd. are reacted in a medium containing water and an org. solvent in the presence of a catalyst such as tetra(n-butyl)ammonium hydroxide pref. at 56-100°C to obtain the objective compd.