(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.
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