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Brewing giant AB InBev seeks to raise $9.8 bn for Asia unit in world's largest IPO this year; deal to be a welcome boost to Hong Kong
FirstpostAB InBev has previously said an IPO of its Asia business could help create a brewing champion for the region such as Budweiser or Corona. Hong Kong: Brewing giant Anheuser-Busch InBev NV is seeking to raise up to $9.8 billion from a Hong Kong listing of its Asia-Pacific business, marking what would be the world’s largest initial public offering this year. The deal will raise between $8.3 billion and $9.8 billion for heavily-indebted AB InBev before any over-allocation option is included, giving Budweiser Asia a market capitalisation of up to $63.7 billion after the IPO. Budweiser Asia’s ratio compares with an EV-EBITDA value of 11 for AB InBev itself, according to Refinitiv data, 15 for China-focused Tsingtao and 10 for Japan’s Kirin, another Asia-centric brewing giant.
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