Business

Budweiser APAC opens for $ 27.40 per share, up 1.5% in IPO




Budweiser beer products produced by Anheuser-Busch InBev NV can be featured at a news conference in Hong Kong, China, Thursday, July 4, 2019.

Kyle Lam | Bloomberg | Getty Images

Budweiser APAC opened higher by almost 1.5% in its first IPO in Hong Kong on Monday in the second largest IPO this year.

Its shares opened at 27.40 Hong Kong dollars ($ 3.49) a share, above the IPO of HK $ 27 per share. It was priced at the bottom of the expected range between HK $ 27 and HK $ 30.

Budweiser APAC CEO Jan Craps said at the launch: "We are focused on growth, growth is what we wanted to do … Asia of course, is the largest beer market in the world. "

" We think we can make many partnerships in Asia here, although we are the largest brewer in Asia today, this is still a market where we have a lot of opportunities, in many markets where we do not lead … in addition, he went on to add that the largest markets in Asia for the company would be China, South Korea, India and Vietnam.

Budweiser's debut was expected to be the second largest IPO globally this year after Uber's $ 8.1[ads1] billion listing in New York, in July, Anheuser-Busch InBev had tried a stock exchange listing on its Asia business, but it said it would not continue, given "several factors, including prevailing market conditions."

The entry k as the months-long protests continue to rock Hong Kong, with the IPO market reportedly hit by turmoil. [19659002] "After capping the trial two months ago, the revival of Budweiser APAC's stock exchange provides a much-needed boost to Hong Kong after anti-government protests and trade tensions deterred potential listings, including Alibaba's $ 15 billion IPO, which is reportedly been delayed, "financial data provider Refinitive told CNBC in an email.

Chinese e-commerce giant Alibaba was said to have delayed the listing in Hong Kong – which is due to happen in August – due to the ongoing unrest.



Source link

Back to top button