AB InBev resumes application for Budweiser’s US$9.8 billion initial public offering in Hong Kong two months after scrapping plans
- Budweiser Brewing Company APAC says there is no guarantee that the IPO will go ahead despite resuming its IPO application
- AB InBev’s Asia-Pacific unit had planned to raise as much as US$9.8 billion from its planned IPO in July
Anheuser-Busch InBev said on Thursday it is continuing to explore an initial public offering in Hong Kong of its Asia-Pacific unit, Budweiser Brewing Company APAC, two months after saying it will not proceed with the planned listing.
The company’s Asia-Pacific unit has resumed its application for the listing of a minority stake of its shares on the Hong Kong stock exchange, it said on Thursday, adding no assurance can be given on whether the transaction will be completed.
AB InBev, the world’s largest brewer, was aiming to sell as much as US$9.8 billion in Budweiser stock to seek relief from its heavy debt burden before pulling out of the planned listing in July.
The resumption of the listing plans come as a boost for the Hong Kong stock exchange after Reuters reported last month that China’s biggest e-commerce company Alibaba Group Holding had delayed its up to US$15 billion listing in Hong Kong amid growing political unrest in the Asian financial hub.
Alibaba owns the South China Morning Post.
