Budweiser to raise $4.8 billion in HK IPO, adds Singapore sovereign wealth fund GIC as investor

18-Sep-2019 Intellasia | South China Morning Post | 6:02 AM Print This Post

Budweiser Brewing Company APAC said on Tuesday that it plans to raise up to $4.8 billion and add Singapore sovereign wealth fund GIC Private Limited as a cornerstone investor as it revives its slimmed-down initial public offering in Hong Kong, weeks after shelving its listing in the midst of protests that have threatened the city’s reputation as an international financial centre.

The listing of the Asia-Pacific arm of Anheuser-Busch InBev, the world’s largest brewer, will be the largest offering in Hong Kong this year and the second-biggest globally after Uber Technologies’ $8.1 billion listing in New York in May, according to financial data provider Refinitiv.

Budweiser initially hoped to raise as much as $9.8 billion, but scrapped its listing in July as it was unable to attract the valuation it wanted, as market sentiment weakened amid a year-long trade war between the United States and China, and intensifying civil unrest in Hong Kong over a controversial extradition bill.



Category: Hong Kong

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