Budweiser Asia Pacific will officially start its offering today (September 18th) until the end of the 23rd and complete the pricing, and plans to list on the main board of the Hong Kong Stock Exchange on September 30, the issue range is 27 to 30 Hong Kong dollars per share.
Editor’s note: This article is from WeChat public account “IPO knows early” (ID: Ipozaozhidao), author C.
According to the IPO, we know that Budweiser Asia Pacific will officially start the offering today (September 18) until the end of the 23rd and complete the pricing, and plans to be on September 30th. Listed on the main board of the Hong Kong Stock Exchange, the issue range is 27 to 30 Hong Kong dollars per share.
According to the plan announced by Budweiser Asia Pacific yesterday, a total of 1.262 billion shares were issued, 95% of which were international placements and 5% were publicly offered; based on the upper limit of the issue price, the amount of funds raised At most, it is about 37.9 billion Hong Kong dollars (about 4.85 billion US dollars).
It is worth noting that compared with the amount of funds raised by Budweiser Asia Pacific in July when it plans to IPO up to 76.4 billion Hong Kong dollars (about 9.8 billion US dollars), the current estimated fundraising amount is only less than 50% of the time. Similar to the fundraising use announced in July, Budweiser Asia Pacific will continue to use the proceeds from the fundraising to repay the parent company’s debt.
In addition, unlike the initial IPO not introducing the cornerstone investors, Budweiser Asia Pacific introduced the Singapore sovereign fund GIC as the cornerstone investor in the IPO process, with an investment of about US$1 billion.
At the press conference held yesterday, when asked why the choice was introduced to the cornerstone investors, Budweiser Asia Pacific CEO Jan Craps said that one of the reasons is that the market environment is different; the second is that the company is investing In the process of introducing the business, the latter has a better understanding of the company. Jan Craps also specifically emphasized at the press conference that “this time the cornerstone investor was introduced because GIC took the initiative to come to us.”
Jankway Asia Pacific CEO Jan Craps
In order to have greater flexibility in the scale of fundraising, Budweiser Asia Pacific’s offer is in addition to the regular 15% over-allotment option, and has the right to adjust the offer. If the offer adjustment rights are all exercised, the public shareholding The amount will increase from 9.53% to 15%.
Baiwei Asia Pacific also made a summary response on the difference between the two IPO plans at the press conference. It said that there are mainly three differences: one is the sale of the Australian business; the second is the introduction of the cornerstone investor; the third is the investment. The current level is a good time to market.
Baiwei Asia Pacific Management Team
Baiwei Asia Pacific also highlighted in the prospectus document updated on September 12 that Australia is not part of the Pan-Asian platform. Earlier on July 19, Anheuser-Busch InBev announced on its official website that it had sold its Australian subsidiary to Asahi Group Holdings for approximately US$11.3 billion; some of the proceeds from it will be used to repay debts. It is expected to be completed in Q1 in 2020.
Of course, although the amount of fundraising has been significantly reduced compared to the previous period, the $4.85 billion in fundraising will also make Budweiser Asia Pacific the second largest IPO project in the world after Uber and 2019.