AB InBev says not proceeding at this time with IPO of Budweiser Brewing APAC
Anheuser-Busch InBev announced that it has decided that, at this time, it is not proceeding with the announced public offering of a minority stake in its Asia Pacific subsidiary, Budweiser Brewing Company APAC Limited, on the Hong Kong Stock Exchange. "The company is not proceeding with this transaction due to several factors, including the prevailing market conditions. The company will closely monitor market conditions, as it continuously evaluates its options to enhance shareholder value, optimize the business and drive long-term growth, subject to strict financial discipline," Anheuser-Busch InBev stated. In afternoon trading in New York following the announcement, AB InBev shares are down 3.5% to $86.52.