The World’s 2nd Largest IPO This Year Comes From A Beer Company.
The brewer of Budweiser, Stella, Becks and more, announced that it has priced the initial public offering for its Asia business at 27 Hong Kong dollars ($3.44) a share, giving it a market value of $45.6 billion. AB InBev, the world’s largest brewer, expects to raise about $5 billion, making it the second largest public offering this year after Uber’s $8.1 billion IPO in May. Trading is expected to begin September 30th.
AB InBev said that the company “Intends to apply all of the net proceeds from the offering to repay debt.”
AB InBev became the world’s largest brewer by borrowing money to fund a series of acquisitions, including the mega purchase of SABMiller in 2018.
[1]