Budweiser’s mega IPO falls flat with Hong Kong investors as high borrowing costs take the fizz out of demand

For many people there is nothing worse than a flat beer. Demand in Hong Kong for the biggest IPO of the year so far was anything but sparkling as Budweiser Brewing Company APAC’s shares proved they were not to everyone’s taste.The retail offering, which ran from Monday until noon on Thursday, is probably about 3.7 to 5 times oversubscribed, locking in HK$18 billion (US$2.3 billion) to HK$23 billion of capital, according to the latest estimates of 10 stock brokers polled by the South China…

source https://www.scmp.com/business/companies/article/3018158/budweisers-mega-ipo-falls-flat-hong-kong-investors-high

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