AB InBev Exercises Over-Allotment Option for Budweiser IPO

   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 [e-mail]

(END) Dow Jones Newswires

October 02, 2019 21:36 ET (01:36 GMT)

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