AB InBev Raises $5 Billion With IPO of Asia Pacific Business
September 26
12:00
2019
AB InBev, the world’s largest brewer, has raised about $5 billion from an Initial Public Offering (IPO) of a minority stake in its Asia Pacific subsidiary, Budweiser Brewing Company APAC, on the Hong Kong Stock Exchange. The proceeds will be used to repay debt of over $100 billion, chiefly resulting from AB InBev’s acquisition of SABMiller in 2016.
AB InBev had previously planned a larger IPO to raise as much as $9.8 billion last July but cancelled proceedings due to prevailing market conditions. AB InBev subsequently sold its Australian beer business to Asahi Group of Japan for $11 billion.
