A six pack of Bud Light sits on a shelf for sale at a convenience store, July 26, 2018 in New York City. Photo: Getty Images/AFP

Here’s why the sales pitch by Anheuser-Busch and its bankers for Budweiser to be the 2019 King of IPOs fell flat

  • Investment banks appeared to be too emboldened by the promise of Asia’s beer boom, with one adviser pitching a valuation of US$70 billion to US$80 billion initially, according to people familiar with the plan
  • Seeing the S&P 500 at a record high and the success of some IPOs in the US, Anheuser-Busch and its bankers JPMorgan Chase and Morgan Stanley tried to raise US$8 billion to US$10 billion, up from US$5 billion to US$6 billion
Topic |   IPO

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A six pack of Bud Light sits on a shelf for sale at a convenience store, July 26, 2018 in New York City. Photo: Getty Images/AFP
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