The Budweiser APAC IPO was priced at the lower end of it’s anticipated range of HK$27 to HK$30.
The shares opened at HK$27.4 i.e. US$3.49.This is above the original price of HK$27, as reported by CNBC.
Budweiser APAC CEO Jan Craps said at the launch: “We are focused on growth, growth is what we set out to do … Asia of course is the largest beer market in the world.”
“We think we can do a lot of partnerships in Asia here, even if we’re the largest brewer in Asia today, this is still a market where we have a lot of opportunities, in many markets where we’re not leading … as well,” he continued adding that China, South Korea, India and Vietnam would be the biggest markets in Asia for the company.
“After shelving its attempt two months ago, the revival of Budweiser APAC’s IPO provides a much needed boost for Hong Kong after anti-government protests and trade tensions deterred potential listings, including Alibaba’s US$15 billion IPO which reportedly has been delayed,” financial data analytics provider Refinitiv told CNBC in an email.
Also, Alibaba extended it’s listing plans in HKEX, originally to be taken place back in august.