Anheuser-Busch InBev’s Asian business unit finally succeeds with a $5bn Hong Kong listing after pricing it at the bottom of a marketed range.
The world’s largest brewer had planned for a bigger initial public offering (IPO) of around $9.8bn in July but had to shelve the plans following what it cited as “several factors, including the prevailing market conditions”.
Global brewer, Anheuser-Busch InBev (A-B InBev) has revived plans to list a minority stake of its shares in its Asia Pacific business unit, Budweiser Brewing Company APAC Limited, on the Hong Kong Stock Exchange.
The resumption follows its withdrawal in July not to go forward with an Initial Public Offering (IPO) in Hong Kong following what it said was unfavourable “market conditions”.
Global brewer, AB InBev on Friday withdrew its plans to sell 1.6bn shares of its Asian business to investors, citing “prevailing market conditions”.
The company had been seeking to sell a minority stake in Budweiser APAC, which markets over 50 brands including its premium brands, Budweiser, Stella Artois and Corona in China, Australia, South Korea and Vietnam, but had to shelve the plans due to weak investor demand for its stated price. AB InBev was seeking to raise between US$8.3bn to US9.8bn from the Initial Public offering (IPO).
Global brewer, Anheuser-Busch InBev is seeking to raise US$9.8bn in an Initial Public Offering (IPO) of a minority stake in its Asia business. The listing could potentially value the company’s Asia Pacific operation at nearly US$64bn.
Budweiser Brewing APAC will be offering 1.6bn shares in an indicative range of HK$40 to HK$47 each (US$5.13 to US$6.02) by July 11.
