Anheuser-Busch InBev said on Friday it will not proceed with the initial public ...
People familiar with the issue said it was struggling to secure enough demand from long-term investors.
Budweiser APAC was seeking to raise between $8.3 billion and $9.8 billion through the float, much of which will go toward paying down debt at its highly leveraged parent. Trading was set to begin on July 19. AB InBev stock, which has rallied 36% this year, is still down 11% over the last 12 months. It fell 1.5% on Friday.The company had positioned its Hong Kong listing as creating a champion in Asia-Pacific, where sales are growing as increasingly wealthy consumers turn to premium beer brands.
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