Nirgunan Tiruchelvam Head of Consumers Equity Research
July 08 2019
Budweiser’s IPO pricing is too frothy
Anheuser-Busch InBev (ABI BB), the world's largest beer producer, plans to raise US$9.8bn through a listing of its Asian business. The issue will outstrip Uber as the largest IPO in 2019. But investors are likely to find the elevated valuation of this major beer IPO hard to swallow.
The Asian business is named Budweiser Brewery Company APAC (1876 HK) and is expected to list in Hong Kong on 19 July. Pricing would be on 11 July...
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