Revived Anheuser-Busch InBev IPO to raise up to $4.8bn
Multibillion-dollar Hong Kong flotation by brewing giant comes at half an earlier target
In July, the brewer shelved a share sale that sought to raise as much as $9.8bn and agreed to sell its Australian business to Asahi Group Holdings for $11.3bn a week later. Photograph: Kyle Lam/Bloomberg
Anheuser-Busch InBev is set to raise as much as $4.8 billion, roughly half of an earlier target, with the revived initial public offering of its Asian unit.
In July, the brewer shelved a share sale that sought to raise as much as $9.8 billion and agreed to sell its Australian business to Asahi Group Holdings for $11.3 billion a week later.
The offering has attracted GIC Pte, a Singaporean sovereign wealth fund, as a cornerstone investor with a commitment of $1 billion, the company said. The previous attempt didn’t have such a holding.
The return of Budweiser Brewing’s IPO is set to boost the Hong Kong bourse just as ongoing anti-government protests there and trade tensions between US and China are rocking the market. It will also propel Hong Kong past Shanghai to become the world’s third largest in terms of first-time share sale volume. – Bloomberg