Anheuser-Busch InBev, the world's largest beer producer, will not accelerate the IPO of its Asian-Pacific unit Budweiser Brewing Company APAC on a Hong Kong stock exchange.
According to CNBC, the company justified its decision by "several factors, including current market conditions."
The company intend to collect between $ 8.3 billion and $ 9.8 billion through this operation, which would, if completed, be the world's largest in 2019.
Earlier this month, Reuters said that the Anheuser-Busch InBev unit, which includes a portfolio of over 50 beer brands, sold 1.6 billion shares between 40 and 47 Hong Kong dollars (5, 13 and 6.02 USD).
The sources quoted by CNBC now explain that the company received offers under the hedge fund and private asset managers, but some major US long-term investors, which are usually IPO priority, offered bids below $ 40. Hong Kong per share and eventually condemn the transaction.
The beer manufacturer's decision, as part of a protracted US-China war, marks a pessimistic tone for large IPOs in Hong Kong, seen as a barometer for future large stocks, such as Alibaba in Hong Kong. .