Budweiser APAC makes biggest IPO debut in 2019
- 2 months ago
Budweiser APAC surged by 1.5% on its IPO in Hong Kong earlier this morning, making it the second largest offering of 2019.
Shares opened at HKD 27.40 per share which was beyond the expected HKD 27 by analysts as it was priced at the bottom of its expected range of between HKD 27 and HKD 30.
As the morning exchange went under way shares climbed by 5% to 28.5 HKD, Budweiser APAC CEO, Jan Craps said, “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.”
Source: Smart Trend Team