(Sept 30): The Asia-Pacific beer unit of Anheuser-Busch InBev NV gained as much as 2.2% in its Hong Kong trading debut, a rare bright spot for the lacklustre global market in initial public offerings.
See: AB InBev targets US$5 bil in Asian unit's Hong Kong IPO
Budweiser Brewing Company APAC raised US$5 billion ($6.9 billion) selling shares at the bottom of a price range last week, in the world’s second-biggest IPO this year behind Uber Technologies Inc. That gave the Asian unit an enterprise value of US$45 billion, helping the parent company reduce its massive debt load and laying the groundwork for possible future acquisitions.
For more insights on corporate trends...
Sign In or Create an account to access our premium content.
Subscription Entitlements:
Less than $9 per month
Unlimited access to latest and premium articles
3 Simultaneous logins across all devices
Bonus unlimited access to online articles and virtual newspaper on The Edge Malaysia (single login)