AB InBev: Hong Kong unit IPO to raise 5 billion dollars
(CercleFinance.com) - Anheuser-Busch InBev aims to raise up to 5.
75 billion dollars by listing its Asia Pacific unit, Budweiser APAC, the beer giant said on Tuesday.
The Belgium-based company said in a statement that the offering of the minority stake would be priced at 27 Hong Kong dollars (about 3.1 euros) per share.
As AB InBev plans to sell 1.26 billion shares, gross proceeds are expected to come in at 39.2 billion Hong Kong dollars (approximately 5 billion dollars).
If the over-allotment option is exercised in full, AB InBev expects additional gross proceeds of approximately 750 million dollars.
If this option is exercised, AB InBev will still control 87.2% of its unit after the offering.
AB InBev said it intends to use the net proceeds from the offering to repay debt.
The Budweiser APAC shares are expected to begin trading on the Hong Stock Exchange on 30 September.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
75 billion dollars by listing its Asia Pacific unit, Budweiser APAC, the beer giant said on Tuesday.
The Belgium-based company said in a statement that the offering of the minority stake would be priced at 27 Hong Kong dollars (about 3.1 euros) per share.
As AB InBev plans to sell 1.26 billion shares, gross proceeds are expected to come in at 39.2 billion Hong Kong dollars (approximately 5 billion dollars).
If the over-allotment option is exercised in full, AB InBev expects additional gross proceeds of approximately 750 million dollars.
If this option is exercised, AB InBev will still control 87.2% of its unit after the offering.
AB InBev said it intends to use the net proceeds from the offering to repay debt.
The Budweiser APAC shares are expected to begin trading on the Hong Stock Exchange on 30 September.
Copyright (c) 2019 CercleFinance.com. All rights reserved.