AB InBev’s Asia unit pulls jumbo HK IPO

Beer (resized 230)
By Jonathan Breen
15 Jul 2019

Budweiser Brewing Company Apac shelved what could have been the largest float globally so far this year and the biggest in nearly a decade in Hong Kong after investors rejected its punchy valuation target, dealing a blow to the city’s IPO market.

The Asian business of brewing giant AB InBev Group cancelled the listing after trying to price the up to HK$76.4bn ($9.8bn) transaction on July 12 — already a day after the trade was to be completed. Listing on the Hong Kong Stock Exchange was set for this Friday.

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