By Yifan Wang
Budweiser Brewing Co. APAC Ltd.’s shares opened 1.5% higher in their Hong Kong debut, outperforming the broader Hang Seng Index in what has been the world’s second-biggest initial public offering so far this year.
Shares of Anheuser-Busch InBev SA ’s /zigman2/quotes/203831500/delayed BE:ABI -0.38% Asian arm opened at 27.40 Hong Kong dollars (US$3.49) on Monday, above the HK$27.00 IPO price, which was at the lower end of the indicative price range. But shares were most recently up 4.2%, while the Hang Seng /zigman2/quotes/210598030/delayed HK:HSI +0.51% was last up 0.6%.
Budweiser /zigman2/quotes/209225053/composite BUD +0.18% raised US$5 billion last week to take the crown of Hong Kong’s largest IPO in 2019 to date, and place itself at No. 2 worldwide, behind U.S. ride-hailing company Uber Technologies Inc. /zigman2/quotes/211348248/composite UBER +5.10% US$8.1 billion New York listing, according to Dealogic.
This is the second try at a Hong Kong listing by the Asian unit of the world’s largest brewer. In mid-July Budweiser called off a US$10 billion IPO attempt due to lukewarm investor response. Later that month it sold its Australian unit and came back to the market in early September as a smaller and faster-growing company that draws most of its sales from China, South Korea, India and Vietnam.
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