Budweiser APAC shares officially opened at HK$27.40 ($3.49) per share on Monday, higher by 1.5% than its initial public offering (IPO) price of HK$27 per share. Stocks were expected to fall between 27 and 30 Hong Kong dollars, with the current value placing at the bottom of that range.
CEO Jan Craps stated at the launch: “We are focused on growth, growth is what we set out to do … Asia, of course, is the largest beer market in the world.”
“We think we can do a lot of partnerships in Asia here, even if we’re the largest brewer in Asia today, this is still a market where we have a lot of opportunities, in many markets where we’re not leading … as well,” Craps added. He also noted that the most prominent Asian markets for Budweiser APAC would be South Korea, India, China, and Vietnam.
With this surge, Budweiser APAC claims the title of the second-largest debut of 2019, placing next to Uber which has an $8.1 billion listing in NYC. But the political unrest in Hong Kong continues to affect the company’s IPO market.
“After shelving its attempt two months ago, the revival of Budweiser APAC’s IPO provides a much-needed boost for Hong Kong after anti-government protests and trade tensions deterred potential listings, including Alibaba’s US$15 billion IPO which reportedly has been delayed,” Refinitiv’s Senior Analyst Elaine Tan wrote.