Budweiser Brewing Company APAC Limited, the Asian unit of Anheuser-Busch InBev Group, is just a few steps away from listing on the Hong Kong Stock Exchange after it filed an application to go public. The Asian unit is associated with more than 50 global beer brands and is planning a multi-billion stock sale, most likely in July this year that could value the brewery firm at about $70 billion.
Budweiser Brewing, the largest beer company in the Asia Pacific in terms of retail sales value and profitability, reported a 22-percent growth in pre-tax profit in 2018 from a year earlier. The company also recorded an 8.6 percent growth in YoY revenues last year and expects robust growth going ahead on the back of expanding beer consumption across Asia. The company is expected to raise about $7 billion from its IPO, making it one of the largest listings in Hong Kong in the last few years. AB InBev has more than 60 breweries in the Asia Pacific corridor, and the company proposes to use the funds to reduce debt and engage in new acquisitions in the region.