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Sept. 30, 2019, 2:16 a.m. EDT

Budweiser’s Asian arm surges on first day of trading in Hong Kong

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By Yifan Wang


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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.

An expanded version of this report can be found at WSJ.com

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/zigman2/quotes/203831500/delayed
BE : Belgium: Euronext Brussels
70.89
-0.27 -0.38%
Volume: 1.61M
Nov. 21, 2019 5:37p
P/E Ratio
21.64
Dividend Yield
N/A
Market Cap
€139.43 billion
Rev. per Employee
€268,229
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/zigman2/quotes/210598030/delayed
HK : Hong Kong Exchange
26,602.90
+136.02 +0.51%
Volume: 156,527
Nov. 22, 2019 9:50a
loading...
/zigman2/quotes/209225053/composite
US : U.S.: NYSE
$ 78.57
+0.14 +0.18%
Volume: 647,245
Nov. 21, 2019 6:30p
P/E Ratio
21.14
Dividend Yield
1.90%
Market Cap
$128.11 billion
Rev. per Employee
$316,102
loading...
/zigman2/quotes/211348248/composite
US : U.S.: NYSE
$ 29.46
+1.43 +5.10%
Volume: 55.66M
Nov. 21, 2019 6:30p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$47.81 billion
Rev. per Employee
N/A
loading...

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