Belgian brewer AB InBev prepares for Hong Kong IPO in July, plans to raise up to US$5 billion
- Anheuser-Busch InBev, the maker of Budweiser beer, on Friday submitted an application to the Hong Kong stock exchange to sell shares in its Asia-Pacific operations
- Deal could be the biggest Hong Kong IPO from a company without mainland Chinese backing since 2010
Anheuser-Busch InBev is targeting a July listing for its Asia-Pacific operations as it moves forward with an initial public offering that could raise at least US$5 billion, people with knowledge of the matter said.
The Belgian brewer has submitted an application to the Hong Kong stock exchange to sell shares in the unit, according to a filing posted to the bourse’s website on Friday. JPMorgan Chase and Morgan Stanley are leading the offering as joint sponsors, a preliminary prospectus shows.
Bank of America and Deutsche Bank have also joined the deal as joint global coordinators, the people said, asking not to be identified because the information is private. Friday’s filing did not provide details on the potential deal terms.
The move lands in a difficult week for markets as investors reel from the latest rise in US-China trade tensions and Uber Technologies priced its IPO near the bottom end of the marketed range. It also signals that the brewer seeks to profit from Asia’s rapidly growing demand for premium beer.
“Our current expectation is to complete the process during the upcoming summer,” a representative for AB InBev said in an emailed response to Bloomberg, adding that the deal depends on valuation, market conditions and other factors. Representatives for Bank of America and Deutsche Bank declined to comment.
AB InBev shares rose as much as 2.2 per cent in early Brussels trading on Friday.