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Megabrewer AB InBev plans year's biggest share sale

Credit: Reuters Studio
Published on July 2, 2019 - Duration: 01:00s

Megabrewer AB InBev plans year's biggest share sale

AB InBev is planning to raise up to $9.8bln with a Hong Kong listing of its Asia-Pacific unit, marking the year's biggest IPO so far.

Julian Satterthwaite reports.

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Megabrewer AB InBev plans year's biggest share sale

The world's largest brewer is planning the year's biggest share sale.

AB InBev wants to raise up to 9.8 billion dollars from a Hong Kong listing of its Asia-Pacific business.

That would easily eclipse the 8.1 billion raised by Uber in New York earlier this year.

AB InBev says the new listing will help it create a brewing champion for the region.

It wants to invest in a continent where wealthier consumers are trading up to more expensive beers.

That is seen boosting AB InBev brands like Budweiser and Corona.

Any money raised might also help the brewer cut its huge debts.

The deal will also be a welcome boost for the Hong Kong stock exchange.

It's lagging far behind New York in this year's IPOs.

The investor response could also be a barometer for a much bigger deal.

Chinese online giant Alibaba currently considering a 20 billion dollar share sale in Hong Kong.

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