AB InBev's Asia-Pacific unit , which raised about $5 billion after...
), which raised about $5 billion after relaunching its IPO this month, rose more than 6% on its market debut in Hong Kong, easing concerns of the impact of ongoing anti-government protests on new share offerings.
Hong Kong as well as other regional markets more generally are also on edge amid a trade dispute between the United States and China, as well as slowing global economic growth. Budweiser APAC shares rose as high as HK$28.90 on Monday, versus their IPO price of HK$27 apiece, the bottom of a marketed range. The stock closed the day at HK$28.20, up 4.4%, while the market index“The performance is much better than expected, and it’s mainly helped by demand from institutional investors who are confident about the company’s growth story, mainly in China,” said Steven Leung, sales director at UOB Kay Hian in Hong Kong.
“Obviously these are challenging times in Hong Kong, but we are very confident in the strong foundation here and we are very optimistic for the bright future of Hong Kong as one of the most important financial centres in Asia,” said Budweiser APAC Chief Executive Jan Craps at the listing ceremony. China’s biggest e-commerce company Alibaba Group Holding Ltd , however, last month delayed its up to $15 billion listing in the city amid the political unrest.
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