Food & Beverage

Budweiser APAC guides pricing towards the low end of the range for up to $9.8 billion HK IPO: Sources

Key Points
  • APAC, the Asia-Pacific business of Anheuser-Busch InBev, has guided towards the bottom of a marketed pricing range for its up to $9.8 billion Hong Kong initial public offering.
  • Investors have already subscribed for more shares than the company is offering in the float, the world's biggest initial public offering this year.
Budweiser beer is displayed in a Shanghai, China supermarket.
Liu Jin | AFP | Getty Images

Budweiser Brewing Company APAC, the Asia-Pacific business of Anheuser-Busch InBev, has guided potential investors towards the bottom of a marketed pricing range for its up to $9.8 billion Hong Kong IPO, two people said.

Investors have already subscribed for more shares than the company is offering in the float, the world's biggest initial public offering this year, Reuters has reported.

The books, which have attracted orders from long-only institutions, sovereign wealth funds and pension funds, will close in Asia and Europe on Thursday at 5 p.m. and noon New York time, or 1700 GMT, said one of the sources.

The final price has yet to be set and is subject to change.

Budweiser APAC, whose portfolio of more than 50 beer brands includes Stella Artois and Corona, is selling about 1.6 billion primary shares at between HK$40-$47 ($5.13-$6.02) apiece.

It is seeking to raise between $8.3 billion and $9.8 billion via the float, much of which will go towards paying down debt at its highly leveraged parent.

The company declined to comment.

The sources declined to be identified as they were not authorized to speak on the matter.