) canceled Asian stock market listing will slow but not derail the world’s largest brewer’s efforts to cut its debt mountain, delaying future acquisitions and prioritizing its main challenge - selling more beers.
But the Hong Kong listing would almost have completed that task, bringing in $8-10 billion and reducing the ratio by up to 0.5 percentage points. Analysts at Jefferies said the slower rate of cutting debt could deter conservative investors and increased risks related to foreign exchange volatility - which has cost AB InBev $2.3 billion since 2016 - just short of the cost savings from its $100 billion plus takeover of SABMiller.
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Investors Balked at Pricing for Canceled Budweiser ListingWhat would have been the year’s biggest IPO flopped after AB InBev and its banks took a series of gambles that didn’t pay off. The world’s biggest brewer halted a nearly $10 billion listing of its Asian unit, blaming market conditions. It would be no alcohol? Well President in 2001 was attacked and had no alcohol drinks, now has to work and still no drinks. No festivities? y 'INVESTORS' ARE MORE INTELLIGENT THAN CORPORATES WHO EXAGGERATES THEIR PERFORMANCE BEFORE PUBLIC ISSUES. NEED TO DISCLOSE REAL STRENGTH BUT NOT OVER VALUED, EXAGGERATED, OVER EXPECTED PERFORMANCE. PREMIUMS BECAME FASHION OF IPOs. MANY RECENT IPOs SHARES ARE TRADED AT LOW PRICES. Capitalists are concerned about Hong Kong's attractive market. Political tensions with China are a big challenge.
Source: WSJ - 🏆 98. / 63 Read more »
Morgan Stanley’s Asian crown gets Bud-shaped dentThe Wall Street bank, along with JPMorgan, led AB InBev’s now-scrapped $9.8 bln listing of its Asia unit. The bankers either misread the market, or caved into the clients’ pricing demands. Either way, it takes the shine off Morgan Stanley’s local league-table pre-eminence.
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