AB InBev launches Hong Kong IPO after delay

Tuesday, 17. September 2019 13:43

Anheuser-Busch InBev more than halved the headline sum it plans to raise in the stock market listing of its Asian unit Budweiser Brewing Company APAC Ltd. to $HK37.8 billion ($4.83 billion) after the process was suspended in July. The world's biggest producer of beer revealed on Tuesday that it will start the initial public offering in Hong Kong tomorrow with 1.26 billion shares. It set the price range at HK$27 and to $HK30 apiece.

However, the total can be lifted by more than a third, to $6.61 billion, if a so-called upsize clause is utilized, and that's without any overallotment or greenshoe option. AB InBev revealed it wants to lower its debt, which is above $100 billion. The subsidiary's Australian division was sold to Japan's Asahi after the delay. The brewer said the listing, reportedly scheduled for September 30, would value the business at up to $50.7 billion.

Related Links: Anheuser-Busch InBev N.V.
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