The owner of Budweiser raises $5 billion in the 2nd-largest IPO of 2019

Paul Beaty/AP
  • Anheuser-Busch InBev, the owner of Budweiser and Bud Light, has raised $US5 billion in Hong Kong through an initial public offering of its Asia business unit.
  • AB InBev priced 1.45 billion share at HK$27, or about $US3.44, giving the company a market value of about $US45.6 billion.
  • The proceeds from the IPO make it the second-largest of 2019, trailing only the $US8.1 billion raise by Uber in May.
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The brewer behind some of America’s most popular beers has priced the second-largest initial public offering of 2019. It trails only ride-hailing giant Uber.

Anheuser-Busch InBev raised $US5 billion through a listing of its Asia business unit on the Hong Kong Stock Exchange. The company priced 1.45 billion shares at HK$27, or the equivalent of $US3.44. That values the Asia unit at around $US45 billion.

Budweiser Brewing Company APAC’s final listing price fell under its marketed range of $US3.45 to $US3.83.

The successful listing follows AB InBev’s failed attempt to raise close to $US10 billion in July through a public offering of its Asia-Pacific business.

At the time, the company said it called off the listing due to “prevailing market conditions.” Investors also reportedly pushed back against the $US64 billion valuation the company was seeking.

AB InBev sold off its Australia business unit to Japan’s Asahi Group Holdings for $US11 billion in late July following the failed IPO, which reduced the value of its Asia-Pacific unit. That likely helped ease investors previous concerns about the listing’s valuation.



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The proceeds from the successful IPO are expected to help the company pay down more than $US100 billion in debt from its purchase of SAB Miller in 2016.

Shares of Budweiser APAC are expected to begin trading on the Hong Kong Stock Exchange on September 30 under the code 1876.AB InBev’s shares listed on the New York Stock Exchange traded about 2% lower early Tuesday morning.

AB InBev’s stock price has risen more than 46% year-to-date through Monday’s close.

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