- Title: AB InBev braves HK turmoil with second Asia IPO attempt, seeking up to $6.6 bln
- Date: 17th September 2019
- Summary: HONG KONG, CHINA (SEPTEMBER 17, 2019) (REUTERS) ***WARNING: CONTAINS FLASH PHOTOGRAPHY*** CHIEF EXECUTIVE OFFICER (CEO) OF BUDWEISER APAC JAN CRAPS AND OTHER BUDWEISER EXECUTIVES WALKING TOWARDS DISPLAY OF BEER BOTTLES BEER CANS AND BOTTLES BEING HELD BY EXECUTIVES CRAPS AND OTHER BUDWEISER EXECUTIVES HOLDING BEER / CRAPS SCREEN SHOWING SLIDE FROM CRAPS' PRESENTATION CRAPS SPEAKING ON STAGE (SOUNDBITE)(English) CHIEF EXECUTIVE OFFICER (CEO) OF BUDWEISER APAC, JAN CRAPS, SAYING: "And, you can see the conditions are more challenging but when we listen to the potential investors we believe there is solid excitement about this business and about this IPO (Initial Public Offering) as we have spoken today, within this value range, within this size of a deal and the dividend policy and everything we presented today and everything you will have discover in the prospectus afterwards. And, that's what we believed changed, right? That that is a very strong investor interest to make this transaction happen." CRAPS SPEAKING ON STAGE (SOUNDBITE)(English) CHIEF EXECUTIVE OFFICER (CEO) OF BUDWEISER APAC, JAN CRAPS, SAYING: "Yeah, I mean theoretically of course it is possible that it does not go through. It's conditional to the right valuation and market conditions but we are quite confident that the investor interest is there. You've seen the cornerstone investor but we believe in (the) investment community there is a broad support for this transaction today." PERSON FILMING BEER DISPLAY BUDWEISER BEER CANS VARIOUS BEER BOTTLES AND CANS ON DISPLAY
- Embargoed: 1st October 2019 14:53
- Keywords: Anheuser-Busch InBev Hong Kong brewing IPO launch
- Location: HONG KONG, CHINA
- City: HONG KONG, CHINA
- Country: Hong Kong
- Topics: Company News Markets,Economic Events
- Reuters ID: LVA001AX1NVIF
- Aspect Ratio: 16:9
- Story Text: Anheuser-Busch InBev NV will brave jittery Hong Kong markets in a second attempt to spin off its Asian business on Wednesday (September 18), aiming to raise up to $6.6 billion in what could be the world's second largest IPO (Initial Public Offering) this year.
The brewing giant, which in July tried to raise up to $9.8 billion through an initial public offering (IPO) of Budweiser Brewing Company APAC Ltd, said on Tuesday (September 17) it would offer 1.3 billion shares at between HK$27 and HK$30 ($3.45-$3.83) apiece.
The flotation will be a test of investor appetite following anti-government protests that have roiled Hong Kong for nearly four months and have weighed on the stock market.
Markets more generally are also on edge amid a trade dispute between the United States and China and slowing global growth. If completed, Budweiser APAC's IPO would provide a boost for Hong Kong after China's Alibaba Group Holding Ltd last month delayed a listing worth up to $15 billion amid the unrest in the former British colony.
(Production: Zaw Naing Oo, Martin Pollard)
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