Anheuser-Busch to Announce Pricing for Budweiser’s Hong Kong IPO Today

Anheuser-Busch to Announce Pricing for Budweiser’s Hong Kong IPO Today
imageStock Markets7 minutes ago (Sep 23, 2019 01:15AM ET)

(C) Reuters.

Investing.com – Anheuser-Busch InBev will announce pricing for the Hong Kong IPO of its Asian business, Budweiser Brewing Company APAC, later on Monday.

It is the firm’s second attempt at spinning off its Asia Pacific unit after it said back in July that it would not proceed with the listing.

If completed, the company would raise up to $6.6 billion from the IPO, making it the world’s second largest IPO so far in 2019, according to Reuters.

The brewing giant said last Tuesday that it would offer 1.3 billion shares at between HK$27 and HK$30 ($3.45 and $3.83) apiece.

The news came as Hong Kong’s financial markets are on a downward trend amid ongoing political unrest that saw the city’s airport services being disrupted, hundreds of tear gases being fired by polices and more than one thousand of protestors being arrested.

“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.

Anheuser-Busch to Announce Pricing for Budweiser’s Hong Kong IPO Today

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.

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.