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AB InBev Set To Revive Budweiser Asia IPO With $5bn Float: Sources

Published on Sep 12 2019 9:39 AM in Drinks tagged: Beer / AB Inbev / Budweiser / asia

AB InBev Set To Revive Budweiser Asia IPO With $5bn Float: Sources

The world's largest brewer, Anheuser-Busch InBev, which shelved a Hong Kong IPO of its Asia Pacific unit in July, is planning to raise about $5 billion from a revived float, people with knowledge of the matter said.

AB InBev, which had aimed to raise as much as $9.8 billion in the IPO of Budweiser Brewing Company APAC Ltd to help with its heavy debt burden, aims to re-launch the float as soon as next week, the sources said.

It is tentatively looking to price the deal on September 23 and list the unit on September 30, one source said.

AB InBev and Budweiser APAC did not respond to requests for immediate comment.

Sales Performance

In July, AB InBev beat earnings expectations in the second quarter after beer sales grew at their fastest pace in over five years, helped by increases in Latin America, Europe and Africa.

The maker of Budweiser, Corona and Stella Artois said on Thursday that beer volumes rose by 2.1% year-on-year in the April-June period, a rate unmatched for five years and in keeping with its strategy to focus much more on the top line.

News by Reuters, edited by ESM. Click subscribe to sign up to ESM: European Supermarket Magazine.

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