Budweiser Brewer to Relaunch Slimmer $4.8 Billion Asian IPO -Source
September 17 2019 - 12:59AM
Dow Jones News
By Joanne Chiu and P.R. Venkat
The world's largest brewer has taken a second shot at listing
its Asian business, seeking to raise up to $4.84 billion in Hong
Kong, according to a person familiar with the matter, even as the
city reels from a summer of protests and U.S.-China trade
tensions.
Anheuser-Busch InBev SA's (ABI.BT) Budweiser Brewing Co. APAC
Ltd. is planning to sell 1.262 billion new shares at an indicative
range of 27 Hong Kong dollars to 30 Hong Kong dollars ($3.45 to
$3.84), the person said.
Budweiser Brewing will start taking orders for the initial
public offering on Wednesday, ahead of a planned Sept. 30 listing,
the person said.
In July, Belgium-listed AB InBev shelved an earlier attempt to
list the Asian business after seeking to raise nearly $10 billion
at a valuation of up to $63.7 billion. It said at the time that
market conditions were partly to blame, but some prospective
investors and analysts pointed to its high valuation
aspirations.
Write to Joanne Chiu and P.R. Venkat at joanne.chiu@wsj.com and
venkat.pr@wsj.com
(END) Dow Jones Newswires
September 17, 2019 01:44 ET (05:44 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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