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AB InBev braves Hong Kong turmoil with second Asia IPO attempt


Added 09-17-19 11:03:01am EST - “Anheuser-Busch InBev NV will brave jittery Hong Kong markets in a second attempt...” - Reuters.com

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Posted By TheNewsCommenter: From Reuters.com: “AB InBev braves Hong Kong turmoil with second Asia IPO attempt”. Below is an excerpt from the article.

HONG KONG (Reuters) - Anheuser-Busch InBev NV (ABI.BR) will brave jittery Hong Kong markets in a second attempt to spin off its Asian business on Wednesday, aiming to raise up to $6.6 billion in what could be the world’s second largest IPO this year.

The brewing giant, which in July tried to raise up to $9.8 billion through an initial public offering (IPO) of Budweiser Brewing Company APAC Ltd, said on Tuesday it would offer 1.3 billion shares at between HK$27 and HK$30 ($3.45-$3.83) apiece.

The flotation will be a test of investor appetite following anti-government protests that have roiled Hong Kong for nearly four months and have weighed on the stock market.

Markets more generally are also on edge amid a trade dispute between the United States and China and slowing global growth, with the owner of U.S. office-sharing startup WeWork postponing its U.S. IPO on Monday.

If completed, Budweiser APAC’s IPO would provide a boost for Hong Kong after China’s Alibaba Group Holding Ltd (BABA.N) last month delayed a listing worth up to $15 billion amid the unrest in the former British colony.

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