The IPO of the Asian subsidiary of beer giant AB InBev yields approximately 5 billion dollars. The shares were brought to the market for a price of 27 Hong Kong dollars, which was at the bottom of the previously intended bandwidth of 27 to 30 Hong Kong dollars.
AB InBev offered a total of 1.45 billion shares of Budweiser Brewing Company APAC. Trading in Hong Kong must start on September 30. The proceeds can still add up to $ 750 million if the over-allotment option is exercised. In addition, additional shares are sold to the accompanying banks on the IPO.
The largest brewer in the world canceled an earlier attempt to bring Budweiser APAC to the stock exchange in Hong Kong in July due to disappointing interest from investors. More shares were then offered and the group has since sold its Australian operations, which were part of Budweiser APAC. The sale of the Australian Carlton & United Breweries to Asahi from Japan generated AB InBev $ 11.3 billion. Including debt, the sale involved an amount of $ 16 billion.
Budweiser APAC sells Stella Artois in China, Australia, South Korea and Vietnam, among others. AB InBev is known in the Europe for brands such as Jupiler, Leffe, Dommelsch, Hertog Jan and Corona.
AB InBev is going to use all the money from the IPO to pay off debt. If the over-allotment option is fully exercised, the brewer retains a stake of just over 87 percent in Budweiser APAC.
Lesley Woutersen, one of the co-founders of the EconomicInform gives away all of his free time to the project. He is interested in stock exchange and digital assets. Lesley can be reached by lesley.woutersen@economicinform.com.
