The Budweiser IPO in Asia will not come to fruition at the planned date as it has been delayed.
Budweiser Brewing Company APAC is the Asia-Pacific business of Anheuser-Busch InBev, which will reportedly not price its initial public offering by Friday–this was the original plan. The news was unveiled by Reuters, which cited two people with knowledge on the matter.
It is unclear at the present time why exactly the business has decided to delay its pricing. It is worth keeping mind that the Budweiser APAC proposition noted that, if the offer price cannot be reached by next Monday (Hong Kong Time), the IPO will not continue and it will lapse.
The IPO would’ve been the largest so far in 2019 as the unit is selling roughly 1.6 billion primary shares at about HK$40 to HK$47 a share, which is about $5.11 to $6.01 per share. Additionally, the business is seeking to raise somewhere between $8.3 billion and $9.8 billion through the offering.
Sources revealed to Reuters on Thursday that the Budweiser APAC IPO was projecting pricing to be closer to the lower end of the range. If it does follow through somehow on the lower end of its pricing range, it would still bring the IPO to about $8.1 billion raised, making it the largest offering of the year.
Article printed from InvestorPlace Media, https://investorplace.com/2019/07/budweiser-ipo/.
©2019 InvestorPlace Media, LLC
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