Hong Kong: AB InBev gives multi-billion listing of Asian business a second try

Budweiser Brewing Co. APAC said Thursday it is aiming to resume its listing on the Hong Kong Stock Exchange which was canceled in July “due to several factors, including the prevailing market conditions” (inside.beer, 13.7.2019). Reuters cited sources saying that the company “is tentatively looking to price the deal on September 23 and list the unit on September 30.” The new listing will exclude its Australian operations which the company sold in the meantime to Asahi Group Holdings at a price of USD 11.3 billion (inside.beer, 19.7.2019).

AB InBev initially hoped to raise as much as USD 9.8 billion for a minority stake in its Asia Pacific subsidiary. The new listing is worth about USD 5 billion according to people close to the matter.

Since AB InBev withdrew from the market in July the stocks listed on the Hong Kong Stock Exchange have surged more than 6 percent which makes today a new listing more attractive.

However, the political unrest in Hong Kong and a possible suppression of the protests by Chinese troops could still prevent the IPO. Budweiser said Thursday “that there is no assurance that the company will proceed with the offering.”

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