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Home https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Business https://server7.kproxy.com/servlet/redirect.srv/sruj/smyrwpoii/p2/ Budweiser APAC opens at $ 27.40 per share, which is 1.5% in IPOs

Budweiser APAC opens at $ 27.40 per share, which is 1.5% in IPOs



Budweiser's brewery products, manufactured by Anheuser-Busch InBev NV, are shown during a press conference in Hong Kong, China, on Thursday, July 4, 2019.

Kyle Lam | Bloomberg | Getty Images

Budweiser APAC opened at a higher value of nearly 1.5% at its initial public offering in Hong Kong on Monday for the second largest IPO of the year.

Its shares opened at HK $ 27.40 ($ 3.49) per share, above its IPO price of HK $ 27 per share. It was at the bottom of the expected range between HK $ 27 and US $ 30.

By morning, it had increased by over 5% to HK $ 28.5.

Budweiser APAC CEO Jan Kraps said at the launch: "We are focused on growth, growth is what we set out to do … Asia is, of course, the largest beer market in the world." [1

9659002] "We think that we can do a lot of partnerships here in Asia, even if we are the largest brewer in Asia today, this is still a market where we have many opportunities, in many markets where we are not leading … "," he continued, adding that the largest markets in Asia for the company would be China, South Korea, India and Vietnam.

Deb Budweiser is expected to be the second largest IPO in the world this year after the $ 8.1 billion Uber list in New York City. In July, Anheuser-Busch InBev attempted an IPO for its Asia business. said it would not continue given "several factors, including prevailing market conditions."

The list comes as months-long protests continue to skyrocket Hong Kong, with its IPO market reportedly affected by turmoil. [19659002] "Having postponed its experience two months ago, the revival of Budweiser APAC's IPO provided much-needed impetus for Hong Kong as anti-government protests and trade tensions stymied potential listings, including Alibaba's $ 15 billion IPO, which reportedly delayed, "

Chinese e-commerce giant Alibaba said it had delayed its list in Hong Kong – due in August – due to ongoing unrest.


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