Anheuser-Busch InBev kicked off a second attempt to spin off its Asian business in Hong Kong with the launch of an IPO worth up to $6.6 billion
FILE PHOTO: Portfolio beer brands of Budweiser Brewing Company APAC Ltd are displayed during a news conference on the company's IPO in Hong Kong, China July 4, 2019. REUTERS/Andrew Geoffrey Jackson/File Photo
HONG KONG - Anheuser-Busch InBev NV kicked off a second attempt to spin off its Asian business in Hong Kong with the launch of an IPO on Wednesday worth up to $6.6 billion in what is poised to be the world’s second largest IPO this year. The Belgium-based brewing giant, which in July tried to raise up to $9.8 billion through an initial public offering of Budweiser Brewing Company APAC Ltd, said on Tuesday that it would re-launch its deal on Wednesday offering 1.3 billion shares at between HK$27-$30 apiece.
The new offering includes a rare “upsize” option that will enable the company to sell up to 40% more shares. Assuming it exercises the option in full at the top end of the range, the sale could raise up to $6.6 billion before any regular overallotment option is included.Proceeds will help AB InBev, the world’s largest brewer, reduce with a debt burden of over $100 billion, accumulated following the purchase of rival SABMiller in late 2016.
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