MILANO – Il gigante della birra Anheuser-Busch InBev NV ha raccolto quasi 5 miliardi dollari in vista del suo prossimo sbarco alla Borsa di Hong Kong in quella che rappresenta la seconda più grande Ipo del 2019 dopo Uber, che a a maggio aveva raccolto 8,1 miliardi prima del suo debutto a Wall Street.

Il colosso mondiale fanno capo anche i marchi Stella Artois, Corona e Budweiser, ha fissato a 27 dollari di Hong Kong il prezzo dello sbarco in Borsa delle sue attività asiatiche, sul livello più basso della forchetta, fissata una settimana fa da InBev tra i 27 e i 30 dollari di Hong Kong.

Stretta dalla necessità di tamponare il maxi debito da oltre 100 miliardi di dollari accumulato dopo la mega acquisizione di SABMiller nel 2016, Ab InBev aveva progettato la quotazione in tempi più rapidi. A luglio scorso, in coincidenza con le tensioni anche sui mercati generate dalle proteste ad Hong Kong, il gruppo è stato però costretto ad un rinvio, tagliando peraltro drasticamente l’obiettivo di raccolta, inizialmente fissato a 10 miliardi di dollari.

has raised about $5
billion in its Asian unit’s initial public offering in Hong
Kong, which was the world’s second-biggest this year.
A total of 1.45 billion Budweiser Brewing Company APAC Ltd.
shares were priced at HK$27 each, which is the bottom of a
marketed range with its top end set at HK$30, the company said
in a statement on Tuesday. The company has partially exercised
an upsize option, issuing 189 million shares on top of the
initial base offering of 1.26 billion shares. The low-end
pricing gives Budweiser Brewing an enterprise value of $45
billion.
The firm also has an over-allotment option, which it could
execute up to 30 days after listing, to sell as much as 217.8
million additional shares. If that option is fully exercised,
the total funds raised for AB InBev will increase to $5.75
billion and the Belgian brewer will control about 87% of
Budweiser Brewing, it said.
Even priced at the bottom of its range, the return of
Budweiser Brewing’s offering after an aborted first attempt in
July would be a major boost to the Hong Kong bourse at a time
when the city’s ongoing anti-government protests and trade
tensions between U.S. and China are rocking the market. It will
also propel Hong Kong past Shanghai as the world’s No. 3 in
terms of first-time share-sale volume.
Excluding Budweiser Brewing, companies have raised a total
of $11.1 billion through IPOs in Hong Kong this year, according
to data compiled by Bloomberg. At $5 billion, the brewer’s
listing would be the second-largest globally this year, trailing
Uber Technologies Inc.’s $8.1 billion U.S. sale in May.

More Attractive

In July, AB InBev agreed to sell its Australian business to
Asahi Group Holdings Ltd. for $11.3 billion, just a week after
the brewer shelved a share sale in which it sought to raise as
much as $9.8 billion.
The removal of AB InBev’s Australian unit, in hiving off a
slower-growing part of its Asia-Pacific empire, has made the
latest IPO plan more attractive to investors who balked at the
previous deal’s valuation. Without Australia, the Asian unit’s
revenue in 2018 was $6.7 billion, representing organic growth of
7.4%, the company said in its latest preliminary prospectus. In
the earlier filing, the Asian unit including Australia had
revenue of $8.5 billion, representing organic growth of 6.1%.
The offering has attracted GIC Pte. as a cornerstone
investor with a commitment of about $1 billion. The company
didn’t line up any cornerstone investor for its previous share
sale.
Budweiser Brewing is expected to start trading on Sept. 30.
JPMorgan Chase & Co. and Morgan Stanley are joint sponsors for
the Hong Kong share sale.
 

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