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MarketScreener Homepage  >  Equities  >  Euronext Bruxelles  >  Anheuser-Busch InBev    ABI   BE0974293251

ANHEUSER-BUSCH INBEV

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Anheuser Busch InBev : Budweiser Brewer Files for Hong Kong Public Offering

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05/11/2019 | 02:48am EDT

By P.R. Venkat

The Asian business of beer giant Anheuser-Busch InBev Group on Friday filed an application to list on the Hong Kong stock exchange, moving closer toward a multibillion-dollar initial public offering later this year.

The unit, called Budweiser Brewing Company APAC Ltd., produces, imports and sells more than 50 beer brands including its namesake Budweiser, Stella Artois, Corona, Hoegaarden and others. It said in a filing to the exchange that it is the largest beer company in the Asia Pacific by retail sales value and one of the most profitable.

The company is targeting a valuation of $70 billion and aiming to list by July, according to a person familiar with the matter. The stock sale could raise about $7 billion, the person added. That would make it one of the largest IPOs in Hong Kong in recent years.

Its parent, AB InBev, the world's largest beer company, earlier this week said it planned to sell a minority stake in the Asia-Pacific business by listing it in Hong Kong. The funds raised could help AB InBev reduce debt while allowing the unit to make acquisitions in Asia.

The Asia business earned $1.87 billion in pretax profit in 2018, up 22% from a year earlier, according to its filing. It reported revenue of $8.46 billion last year, up from $7.79 billion in 2017.

The company said it expects its growth to be underpinned by increasing beer consumption across Asia. Its principal markets include China, Australia, South Korea, India and Vietnam, and it operates 62 breweries across those markets.

J.P. Morgan and Morgan Stanley are joint sponsors of the IPO, according to the filing. In Hong Kong, sponsors shepherd companies through a listing and conduct due diligence and other functions.

Write to P.R. Venkat at venkat.pr@wsj.com

Stocks mentioned in the article
ChangeLast1st jan.
ANHEUSER-BUSCH INBEV 1.93% 88.07 Delayed Quote.49.74%
VALUE8 N.V. 0.36% 5.58 Delayed Quote.17.30%
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Financials (USD)
Sales 2019 55 260 M
EBIT 2019 18 441 M
Net income 2019 11 051 M
Debt 2019 96 233 M
Yield 2019 2,24%
P/E ratio 2019 16,3x
P/E ratio 2020 18,0x
EV / Sales2019 4,86x
EV / Sales2020 4,54x
Capitalization 173 B
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Mean consensus OUTPERFORM
Number of Analysts 33
Average target price 104,36  $
Last Close Price 88,07  $
Spread / Highest target 38,1%
Spread / Average Target 18,5%
Spread / Lowest Target -31,0%
EPS Revisions
Managers
NameTitle
Carlos Alves de Brito Chief Executive Officer
Olivier Goudet Chairman
Luis Felipe Pedreira Dutra Leite Chief Financial & Solutions Officer
Martin J. Barrington Non-Executive Director
William F. Gifford Non-Executive Director
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