Budweiser APAC launches second IPO attempt, targets up to $6.6 billion



HONG KONG (Reuters) – Anheuser-Busch InBev NV (BR:) kicked off a second attempt to spin off its Asian business in Hong Kong with the launch of an IPO on Wednesday worth up to $6.6 billion (£5.32 billion) in what is poised to be the world’s second largest IPO this year.

The Belgium-based brewing giant, which in July tried to raise up to $9.8 billion through an initial public offering of Budweiser Brewing Company APAC Ltd, said on Tuesday that it would re-launch its deal on Wednesday offering 1.3 billion shares at between HK$27-$30 (£2.78-£3.09) apiece.

The new offering includes a rare “upsize” option that will enable the company to sell up to 40% more shares. Assuming it exercises the option in full at the top end of the range, the sale could raise up to $6.6 billion before any regular overallotment option is included.

The company would raise up to $4.8 billion without the upsize option.

Proceeds will help AB InBev, the world’s largest brewer, reduce with a debt burden of over $100 billion, accumulated following the purchase of rival SABMiller (LON:) in late 2016.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

READ  Morgan Stanley Earnings, Revenue beat in Q1

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.





READ SOURCE

LEAVE A REPLY

Please enter your comment!
Please enter your name here