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Last Updated : Jul 03, 2019 11:18 AM IST | Source: Moneycontrol.com

Budweiser maker set to launch year's biggest IPO; hopes to raise $10 billion

The makers Budweiser, whose portfolio consists of over 50 beer brands including Corona and Stella Artois, plan to offer 1.63 billion shares for HK$40-$47 (Rs 353-Rs 415) apiece

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Brewing major Anheuser-Busch InBev is all set to come out with the biggest IPO of the year as it seeks to raise $9.8 billion by listing its Asia-Pacific business in Hong Kong, reports suggest.

According to a Reuters report, the makers of Budweiser, whose portfolio consists of over 50 beer brands including Corona and Stella Artois, plan to offer 1.63 billion shares for HK$40-47 (Rs 353-Rs 415) apiece.

At the aforementioned rate, the brewer would raise between $8.3 billion and $9.8 billion, beating the biggest IPO of the year by Uber that raised $8.1 billion.

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Also Read: Uber's upcoming IPO has raised more questions than it has answered

The report further suggests that the funds raised would be used to reduce the company's massive debt load of over $100 billion, incurred following the acquisition of rival SABMiller in late 2016.

However, CEO Carlos Brito, in June this year, inferred that the listing also could lead to acquisitions in the Asia-Pacific region.

"The number one reason to do the listing is to have a platform in the region that is seen as closer to those markets and connected to what the region will do since that's something that can be attractive to local groups," he told the Financial Times.
First Published on Jul 3, 2019 11:18 am
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