Business Other News 18 Sep 2019 AB InBev to kick off ...

AB InBev to kick off IPO in HK again

REUTERS
Published Sep 18, 2019, 12:47 am IST
Updated Sep 18, 2019, 12:47 am IST
The flotation will be a test of investor appetite following anti-government protests that have roiled Hong Kong for nearly four months.
The flotation will be a test of investor appetite following anti-government protests that have roiled Hong Kong for nearly four months and have weighed on the stock market.
 The flotation will be a test of investor appetite following anti-government protests that have roiled Hong Kong for nearly four months and have weighed on the stock market.

Hong Kong: Anheuser-Busch InBev NV will kick off a second attempt to spin off its Asian business in Hong Kong with the launch on Wednesday of an IPO worth up to $6.6 billion that could be the world's second largest this year.

The brewing giant, which in July tried to raise up to $9.8 billion through an initial public offering (IPO) of Budweiser Brewing Company APAC, said on Tuesday it would offer 1.3 billion shares at between HK$27 and HK$30 ($3.45-$3.83) apiece.

 

The flotation will be a test of investor appetite following anti-government protests that have roiled Hong Kong for nearly four months and have weighed on the stock market. If completed, the IPO would provide a boost for the former British colony after China's Alibaba Group Holding last month delayed a listing worth up to $15 billion amid the unrest.

"You could say that the conditions are more challenging, but when we listen to potential investors we believe that there is solid excitement about this business and its IPO," said Jan Craps, CEO of Budweiser APAC.

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