AB InBev Exercises Over-Allotment Option for Budweiser IPO
October 02 2019 - 9:51PM
Dow Jones News
By P.R.Venkat
Anheuser-Busch InBev SA (ABI.BT) has fully exercised the
over-allotment option for the initial public offering of its Asian
unit, Budweiser Brewing Co. APAC Ltd. (1876.HK), it said
Thursday.
The world's largest brewer will raise $750 million in gross
proceeds from the exercise that it will use to repay debt.
Last month, AB InBev raised $5 billion through an IPO of its
Asian operations in Hong Kong, making it the world's second-largest
listing so far this year, behind U.S. ride-hailing company Uber
Technologies Inc.'s (UBER) $8.1 billion New York listing in May,
according to Dealogic.
Budweiser, which sells its namesake beer as well as Corona,
Stella Artois and other brands in the region, is now worth more
than Japan's Asahi Group Holdings Ltd. (2502.TO), Denmark's
Carlsberg A/S (CARL-A.KO) and local rival China Resources Beer
(Holdings) Co. (0291.HK).
Shares of Budweiser closed 5.3% higher on Wednesday at 29.70
Hong Kong dollars (US$3.79).
Write to P.R. Venkat at venkat.pr@wsj.com
(END) Dow Jones Newswires
October 02, 2019 21:36 ET (01:36 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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