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AB InBev's Asian Unit Seeks To Raise $9.8 Bln In Hong Kong IPO

Brewer Anheuser-Busch InBev SA's (AHBIF.PK,BUD) Asia-Pacific unit, Budweiser Brewing Company APAC Ltd., is seeking to raise up to $9.8 billion in an initial public offering or IPO in Hong Kong, reports said citing people familiar with the matter.

Budweiser Brewing's planned IPO reportedly would be the world's largest food and beverage IPO. As of now, Kraft Foods Inc. is in the top spot with its $8.68 billion IPO in 2001.

Reuters reported that Budweiser Brewing is selling 1.6 billion primary shares at between HK$40 and HK$47 per share, or about $5.13-$6.02. The company would raise between $8.3 billion and $9.8 billion, which would give Budweiser a market capitalization of up to $63.7 billion after the IPO.

As per reports, Budweiser, which operates a portfolio of more than 50 beer brands, will launch bookbuilding for its Hong Kong IPO later Tuesday. The move is ahead of a planned debut on July 19.

While announcing the first-quarter results in May, AB InBev had said that it was actively exploring a potential minority stake listing of Asia Pacific business on the Hong Kong Stock Exchange. With the initiative, the company said it expects to create an APAC champion in the consumer goods space.

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