AGL 38.00 Increased By ▲ 0.50 (1.33%)
AIRLINK 218.05 Decreased By ▼ -4.84 (-2.17%)
BOP 10.75 Decreased By ▼ -0.07 (-0.65%)
CNERGY 7.40 Decreased By ▼ -0.16 (-2.12%)
DCL 9.15 Decreased By ▼ -0.27 (-2.87%)
DFML 40.90 Decreased By ▼ -0.06 (-0.15%)
DGKC 103.45 Decreased By ▼ -3.31 (-3.1%)
FCCL 34.74 Decreased By ▼ -2.33 (-6.29%)
FFL 19.52 Increased By ▲ 0.28 (1.46%)
HASCOL 12.93 Decreased By ▼ -0.25 (-1.9%)
HUBC 131.89 Decreased By ▼ -0.75 (-0.57%)
HUMNL 14.60 Decreased By ▼ -0.13 (-0.88%)
KEL 5.30 Decreased By ▼ -0.10 (-1.85%)
KOSM 7.46 Decreased By ▼ -0.02 (-0.27%)
MLCF 45.87 Decreased By ▼ -2.31 (-4.79%)
NBP 66.50 Increased By ▲ 0.21 (0.32%)
OGDC 221.60 Decreased By ▼ -1.66 (-0.74%)
PAEL 44.48 Increased By ▲ 0.98 (2.25%)
PIBTL 9.08 Increased By ▲ 0.01 (0.11%)
PPL 194.49 Decreased By ▼ -3.75 (-1.89%)
PRL 41.80 Decreased By ▼ -0.44 (-1.04%)
PTC 26.86 Decreased By ▼ -0.53 (-1.94%)
SEARL 108.00 Decreased By ▼ -2.08 (-1.89%)
TELE 10.42 Decreased By ▼ -0.10 (-0.95%)
TOMCL 36.19 Decreased By ▼ -0.43 (-1.17%)
TPLP 14.70 Decreased By ▼ -0.25 (-1.67%)
TREET 26.25 Decreased By ▼ -0.28 (-1.06%)
TRG 68.10 Decreased By ▼ -0.75 (-1.09%)
UNITY 33.60 Decreased By ▼ -0.59 (-1.73%)
WTL 1.76 Decreased By ▼ -0.03 (-1.68%)
BR100 12,416 Increased By 52.7 (0.43%)
BR30 37,514 Decreased By -704.4 (-1.84%)
KSE100 117,816 Increased By 696.2 (0.59%)
KSE30 37,140 Increased By 202.8 (0.55%)

Anheuser-Busch InBev NV will kick off a second attempt to spin off its Asian business in Hong Kong with the launch on Wednesday of an IPO worth up to $6.6 billion that could be the world's second largest 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.
If completed, the IPO would provide a boost for the former British colony after China's Alibaba Group Holding Ltd last month delayed a listing worth up to $15 billion amid the unrest. "You could say that the conditions are more challenging, but when we listen to potential investors we believe that there is solid excitement about this business and its IPO," said Jan Craps, CEO of Budweiser APAC.
The new Budweiser APAC offering includes a rare "upsize" option that will enable the company to sell up to 36.8% more shares. Assuming it exercises the option in full at the top end of the price range, the sale could raise up to $6.6 billion before any regular overallotment option is included. Belgium-based AB InBev would raise up to $4.8 billion without the upsize option.
Proceeds will help the company, the world's largest brewer, reduce debts of more than $100 billion, accumulated following the purchase of rival SABMiller in late 2016.

Copyright Reuters, 2019

Comments

Comments are closed.