The Asia business of Anheuser-Busch InBev raised about $5 billion in its second attempt at a Hong Kong IPO
Anheuser-Busch InBev SA BUD 0.02% ’s Asian unit, Budweiser Brewing Co. APAC, priced its Hong Kong IPO at 27 Hong Kong dollars a share , people familiar with the matter said Tuesday. That was at the low end of an indicative price range.
Its $5 billion share sale still ranks as Hong Kong’s largest IPO this year and is the second-largest offering world-wide in 2019 after ride-hailing giant Uber Technologies ’ $8.1 billion debut in New York, according to Dealogic. The Budweiser APAC share sale could enable the Asian business to pursue regional deals and will help parent AB InBev reduce its huge debt pile, which was accumulated through years of aggressive deal making. AB InBev brews one in four of the world’s beers and owns hundreds of brands, including Budweiser, Stella Artois and Corona. It is aiming to reduce its debt to about $80 billion.
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