AB InBev: cancels Asian unit IPO due to market conditions
(CercleFinance.com) - Anheuser-Busch InBev said it was cancelling the public offering of a minority stake in its Asia Pacific unit on the Hong Kong Stock Exchange.
The Belgian brewer said it was not proceeding with the IPO due to several factors, including poor market conditions.
The deal was intended to help the company raise between 8 and 10 billion dollars to cut debt, which was in excess of 100 billion dollars at the end of 2018.
In a statement, AB InBev said it will closely monitor market conditions, as it "continuously evaluates its options”.
The shares of the beer maker were down 1.8% on Euronext Brussels.
Copyright (c) 2019 CercleFinance.com. All rights reserved.
The Belgian brewer said it was not proceeding with the IPO due to several factors, including poor market conditions.
The deal was intended to help the company raise between 8 and 10 billion dollars to cut debt, which was in excess of 100 billion dollars at the end of 2018.
In a statement, AB InBev said it will closely monitor market conditions, as it "continuously evaluates its options”.
The shares of the beer maker were down 1.8% on Euronext Brussels.
Copyright (c) 2019 CercleFinance.com. All rights reserved.