Budweiser Brewer to Relaunch Slimmer $4.8 Billion Asian IPO -Source

By Joanne Chiu and P.R. Venkat

The world's largest brewer has taken a second shot at listing its Asian business, seeking to raise up to $4.84 billion in Hong Kong, according to a person familiar with the matter, even as the city reels from a summer of protests and U.S.-China trade tensions.

Anheuser-Busch InBev SA's (ABI.BT) Budweiser Brewing Co. APAC Ltd. is planning to sell 1.262 billion new shares at an indicative range of 27 Hong Kong dollars to 30 Hong Kong dollars ($3.45 to $3.84), the person said.

Budweiser Brewing will start taking orders for the initial public offering on Wednesday, ahead of a planned Sept. 30 listing, the person said.

In July, Belgium-listed AB InBev shelved an earlier attempt to list the Asian business after seeking to raise nearly $10 billion at a valuation of up to $63.7 billion. It said at the time that market conditions were partly to blame, but some prospective investors and analysts pointed to its high valuation aspirations.

Write to Joanne Chiu and P.R. Venkat at [e-mail] and [e-mail]

(END) Dow Jones Newswires

September 17, 2019 01:44 ET (05:44 GMT)

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