Budweiser Asia Pacific officially listed, the market value exceeded 370 billion Hong Kong dollars!
On September 30th, Budweiser Asia Pacific (01876.HK), which is making a comeback, was listed on the market. Budweiser Asia Pacific CEO Yang Ke (left) and executive director and legal counsel and company secretary Wang Renrong (right) jointly knocked.
The stock price opened higher on the first day, closing at close at 28.2 Hong Kong dollars, up nearly 4.5%, turnover exceeding 260 million, market value of 373.464 billion Hong Kong dollars, close to 6 Tsingtao beer (6.55 billion Hong Kong dollars).
After the launch of Budweiser Asia Pacific, Anheuser-Busch InBev will still control a majority stake in Budweiser Asia Pacific, with a controlling ratio of 87.22%-88.86%, depending on whether the over-allotment option is exercised.
Budweiser Asia Pacific CEO Yang Ke: I am very optimistic about the future. We are the champion of Asian Beer Company. We are very excited to be listed today. We have been paying attention to the growth of the Asian market. There are also many partners here, China, Korea, India and Vietnam. Have. There are also many markets in Vietnam, Thailand and the Philippines that can open up the market. I believe that our company has a very good production capacity, with 56 wineries and 30,000 employees in Asia. Budweiser Asia Pacific has also had strong demand in the stock market.
In May of this year, Budweiser Asia Pacific submitted its prospectus for the first time, and the offer price was set at more than 40 Hong Kong dollars. In early July, Anheuser-Busch InBev said it sought to list its Asian subsidiary Budweiser Brewing Company APAC in Hong Kong. It plans to sell 1.63 billion shares of original stock at a price of 40 to 47 Hong Kong dollars (about 5.12 to 6.02). USD).
However, in just 10 days, Budweiser Asia Pacific suspended the IPO plan, saying that it decided not to carry out its global offering and listing on the main board of the Stock Exchange of Hong Kong Limited based on a number of factors, including the prevailing market conditions.
Some media said that the main reason for Budwe's cancellation of listing was because the institutional orders were not enough, but they were not willing to cut the amount of funds raised.
On September 12, Anheuser-Busch InBev announced the restart of Budweiser Asia Pacific's IPO program.
For the second application, Budweiser Asia Pacific held a press conference in Hong Kong on September 17th. Now there are three differences between Budweiser IPO and the previous one:
First, it sold a business in Australia. Through this IPO, Budweiser will have a large room for growth and more free cash to help future mergers and acquisitions;
Second, more cornerstone investors GIC;
Third, communicate with investors and think that now is a good time, the market has a greater interest in the company's platform.
In the Chinese beer market, Budweiser Asia Pacific has a pivotal position. Currently, the company sells beer brands such as Budweiser InBev, Fujia, Corona, Harbin, Sedrin and Boxing Cat in China.
According to sales, in 2018, Budweiser's market share in the Chinese market was 16.4%, ranking second only to China Resources Snow and Tsingtao Brewery. In the high-end, ultra-high-end beer market, Budweiser Asia Pacific is firmly in the top spot, with a market share of 46.6% in 2018, far exceeding Qingdao Beer 14.4%, China Resources Snow 11%, Carlsberg 4.6%, Heineken 1.7%.
According to the data analysis of China Merchants Securities, the high-end price belt, Budweiser Asia Pacific in addition to the high market share, net interest rate, EBITDA rate significantly leading, the factory unit price is twice the average price of the Chinese beer industry.