AB InBev has revived its plans for a public listing in Asia
The worlds largest brewer has revived its plans to list on the Hong Kong Stock Exchange, two months after it abruptly pulled the plug on the multi-billion dollar project.
It is hoped the IPO would help the brewer raise funds to help reduce its debt and fund future acquisitions in the region.
AB InBev said on Thursday (12 September) it had “resumed its application” to list shares in its Budweiser APAC division on the Hong Kong Stock Exchange.
Its business in Asia imports and sells more than 50 beer brands including Stella Artois and Budweiser.
The brewer first applied for the listing in May, but scrapped the planned US$9.8 billion offering in July after a lukewarm reception from investors. AB InBev said that “market conditions” were not deemed favourable enough to go ahead with it at the time.
The brewer later agreed to sell its Australian subsidiary Carlton & United Breweries to Tokyo-headquartered Asahi shortly after the IPO was put on hold.
The deal is subject to closing conditions and regulatory approval, and if given the go ahead, is expected to be completed by the first quarter of 2020.