88.01 0.00 (0.00%)
After hours: 4:43PM EDT
|Bid||86.10 x 800|
|Ask||87.89 x 900|
|Day's Range||87.64 - 88.37|
|52 Week Range||64.55 - 106.86|
|Beta (3Y Monthly)||1.31|
|PE Ratio (TTM)||25.58|
|Forward Dividend & Yield||2.03 (2.29%)|
|1y Target Est||95.53|
Jul.15 -- Ringo Choi, IPO leader at EY Asia Pacific, discusses the IPO market in Asia, how the listing failure of AB InBev will impact future offerings and Alibaba’s upcoming IPO. He speaks on “Bloomberg Markets: China Open.”
St. Louis companies continue to be buyers in the mergers and acquisitions market. Of 98 transactions in the first half of 2019, 61 were acquisitions by St. Louis companies, and 37 were sales by St. Louis companies, according to The Fortune Group, an M&A advisory firm. It’s a trend that goes back 10 years and is in contrast to the negative trend – and image – of large public companies headquartered in St. Louis relocating or selling to companies with headquarters elsewhere.
LOS ANGELES, CA / ACCESSWIRE / July 16, 2019 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Anheuser-Busch InBev SA/NV ("Anheuser-Busch" or "the Company") (NYSE: BUD) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company's shares between March 1, 2018 and October 24, 2018, inclusive (the ''Class Period''), are encouraged to contact the firm before August 20, 2019.
NEW YORK, NY / ACCESSWIRE / July 16, 2019 / Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies. Shareholders ...
Faruqi & Faruqi, LLP, a leading national securities law firm, reminds investors in Anheuser-Busch InBev SA/NV (“Anheuser-Busch” or the “Company”) (BUD) of the August 20, 2019 deadline to seek the role of lead plaintiff in a federal securities class action that has been filed against the Company. If you invested in Anheuser-Busch stock or options between March 1, 2018 and October 24, 2018 and would like to discuss your legal rights, click here: www.faruqilaw.com/BUD. There is no cost or obligation to you.
CEDARHURST, NY / ACCESSWIRE / July 16, 2019 / The securities litigation law firm of Kuznicki Law PLLC issues the following notice on behalf of shareholders of the following publicly traded companies. Shareholders who purchased shares in these companies during the dates listed below are encouraged to contact the firm regarding possible appointment as lead plaintiff and a preliminary estimate of their recoverable losses. If you wish to choose counsel to represent you and the class, you must apply to be appointed lead plaintiff and be selected by the Court.
The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Anheuser-Busch InBev SA/NV (“Anheuser-Busch” or “the Company”) (NYSE: BUD) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. You can also reach us through the firm's website at www.schallfirm.com, or by email at email@example.com.
NEW YORK, July 16, 2019 -- Levi & Korsinsky, LLP announces that class action lawsuits have commenced on behalf of shareholders of the following publicly-traded companies..
NEW ORLEANS, July 15, 2019 -- ClaimsFiler, a FREE shareholder information service, reminds investors of pending deadlines in the following securities class action lawsuits:.
A senior Goldman Sachs banker has highlighted to colleagues the role played by rival Morgan Stanley in failed Hong Kong IPOs following the collapse on Friday of Budweiser APAC's $9.8 billion initial public offering, according to an internal email seen by Reuters. On Friday AB InBev called off the Hong Kong listing of its Asia Pacific brewing business, that was being managed by Morgan Stanley and JPMorgan, citing several factors, including prevailing market conditions. A further 11 banks were listed as global coordinators and bookrunners but Goldman had no role on the deal.
AB InBev (BUD) withdraws the planned $9.8-billion IPO for its Budweiser unit in Asia, which would have been the world's biggest IPO for 2019 after Uber's $8.1-billion offering.
Budweiser's parent company was on track to hold the title of overseeing the world's most valuable IPO in 2019. The now-cancelled IPO was poised to raise $10 billion through a listing in the Hong Kong market. It appears the company and its bankers were too aggressive in pricing the IPO, although its exposure to China yields superior margins compared to rivals, The Wall Street Journal reported.
AB InBev's cancelled 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 prioritising its main challenge - selling more beers. The Belgium-based company on Friday shelved plans to list its Asian Pacific business in Hong Kong in what would have been the world's biggest initial public offering so far this year. The brewer has said that even without the flotation of a minority stake in the Asian division Budweiser APAC it will reduce its net debt to core earnings (EBITDA) ratio to below four times by the end of 2020 - from 4.6 at the end of 2018.
NEW YORK, NY/ ACCESSWIRE / July 15, 2019 / The Law Offices of Vincent Wong announce that class actions have commenced on behalf of shareholders of the following companies. If you suffered a loss you have ...
LOS ANGELES, CA / ACCESSWIRE / July 15, 2019 / The Schall Law Firm, a national shareholder rights litigation firm, announces the filing of a class action lawsuit against Anheuser-Busch InBev SA/NV ("Anheuser-Busch" or "the Company") (BUD) for violations of §§10(b) and 20(a) of the Securities Exchange Act of 1934 and Rule 10b-5 promulgated thereunder by the U.S. Securities and Exchange Commission. Investors who purchased the Company's shares between March 1, 2018 and October 24, 2018, inclusive (the ''Class Period''), are encouraged to contact the firm before August 20, 2019.
NEW YORK, NY / ACCESSWIRE / July 15, 2019 / The Klein Law Firm announces that class action complaints have been filed on behalf of shareholders of the following companies. If you suffered a loss you have until the lead plaintiff deadline to request that the court appoint you as lead plaintiff.
Guggenheim’s Laurent Grandet said that every other major catalyst is intact for AB InBev, making last week’s weakness a buying opportunity.
NEW YORK, NY / ACCESSWIRE / July 15, 2019 / Bronstein, Gewirtz & Grossman, LLC reminds investors that a class action lawsuit has been filed againstthe following publicly-traded companies. You can review a copy of the Complaints by visiting the links below or you may contact Peretz Bronstein, Esq. If you suffered a loss, you can request that the Court appoint you as lead plaintiff.
(Bloomberg) -- JPMorgan Chase & Co. and Morgan Stanley lost out on their cut of what would’ve been the year’s biggest initial public offering last week.The top two advisers on Anheuser-Busch InBev SA’s Asia Pacific unit IPO would’ve split up to $140 million to $170 million in fees, according to people with knowledge of the matter. The world’s biggest brewer intended to raise as much as $9.8 billion before it announced Friday that it wouldn’t proceed with the listing citing “prevailing market conditions.”Click here to read more about the IPO’s failure.Advisers of Budweiser Brewing Company APAC Ltd. were slated to split about 2% of the funds raised in the IPO, said the people, who asked not to be identified because the information is private. Sponsors, or lead arrangers, would take home about 70% of the fee pool plus potential incentive payments, the people said.The banks’ reputations are taking a hit alongside their wallets as some analysts blame them for the IPO’s failure. Morgan Stanley has been ranked No. 1 for equity offerings in Asia Pacific since 2017, according to data compiled by Bloomberg. JPMorgan is eighth on equity deals in the region so far this year.“AB InBev and its bank consortium headed by JPMorgan and Morgan Stanley failed to properly price, attract cornerstone investors and drum up demand,” said Nikolaas Faes, an analyst at Bryan Garnier & Co., in a note to clients where he called the IPO a “fiasco.”Read more analyst comments on the IPO here.Representatives for AB InBev, JPMorgan and Morgan Stanley declined to comment.Budweiser had planned to seek $8.3 billion to $9.8 billion in the Hong Kong IPO, valuing the business at as much as $64 billion. It could’ve been the biggest IPO so far this year, taking advantage of the beer market’s growth in Asia to attract investors, and surpassing Silicon Valley darling Uber Technologies Inc.’s May share sale.\--With assistance from Albertina Torsoli.To contact the reporters on this story: Crystal Tse in Hong Kong at firstname.lastname@example.org;Vinicy Chan in Hong Kong at email@example.comTo contact the editors responsible for this story: Fion Li at firstname.lastname@example.org, Amy ThomsonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg Opinion) -- For a company that built its beer-brewing empire on the back of swashbuckling deals, the future for Anheuser-Busch InBev SA looks pretty unexciting.Friday’s decision by the Belgian giant to pull an initial public offering of its Asian unit, which might have raised as much as $10 billion, means it has given up the chance to pay down its $100 billion of debt faster. Perhaps more important, the brewer has lost a valuable source of funding for acquisitions in Asia.AB InBev had set a punchy price range for the listing, as noted by my colleague Chris Hughes. Even so, the decision to pull the IPO – rather than cut the price – is curious. A survey by Bernstein analysts indicated that there was significant interest among investors at HK$38 per share, which was below the HK$40-47 range but not that much lower. This reduced offer would have generated $400 million less than an IPO at the bottom of the price range, Bernstein notes. For the world’s biggest brewer, with a market capitalization of 157 billion euros ($177 billion), that would have seemed a small concession given the IPO’s considerable benefits.Without the prospect of the Asia listing, AB InBev has little choice but to knuckle down and gradually chip away at its mountain of borrowings. Net debt stood at $103 billion on December 31. The IPO would have cut the total by about 10%, according to Bernstein, and allowed the company to hit a key debt reduction target a year early. Now net debt will still be 4.2 times earnings at the end of this year. That’s better than the 4.6 times at the close of 2018, but it’s still too high. It underlines the slow pace of reducing the burden.This doesn’t leave the group much flexibility to do deals. True, the company could gear up further or use AB InBev shares as currency. But neither option is attractive. Investors would be justifiably nervous about borrowings rising even more. The group’s two biggest shareholders, Altria Group Inc. and Colombia’s Santo Domingo family, may not want to be diluted through any deal that was funded by equity.Cutting the dividend again to speed deleveraging is another option. The group should probably have gone further when it halved the payout in October. Still, such a decision wouldn’t be taken lightly.While it’s possible the IPO might return to the agenda, it’s hard to see what might change either the company’s or investors’ contrasting views of the Asian business’s value. With the prospects of the listing gone – at least for now – the king of beers is tasting pretty flat.To contact the author of this story: Andrea Felsted at email@example.comTo contact the editor responsible for this story: James Boxell at firstname.lastname@example.orgThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andrea Felsted is a Bloomberg Opinion columnist covering the consumer and retail industries. She previously worked at the Financial Times.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
(Bloomberg) -- For months, executives from Anheuser-Busch InBev NV raced to prepare for a listing of its Asian subsidiary, Budweiser Brewing Company APAC Ltd. It was to be this year’s biggest initial public offering and would surpass Uber Technologies Inc.’s $8.1 billion share sale.The hope had been that the Belgian company’s leading position in the premium beer market in China -- with its millions of drinkers -- would justify a target to raise as much as $9.8 billion, for a valuation of $64 billion. But on Friday, AB InBev discovered that wasn’t enough to convince investors to splurge on the King of Beers, forcing it to dial back its ambitions and shelve plans for the mammoth IPO in Hong Kong.AB InBev’s setback can be explained at least partly by shifting trends in China, where younger consumers are increasingly moving away from traditional beers toward higher-priced craft brews and cocktails. Meanwhile, competition in China is spiking after rival Heineken NV forged a blockbuster deal with a state-owned company. All that left many investors wary of buying into Budweiser’s richly valued IPO.“We do feel that there are better places to be invested within beer, such as Carlsberg or Heineken,” Jefferies International analyst Ed Mundy told Bloomberg Television on July 12 before the company announced the suspension of the listing. Jefferies had estimated a valuation of closer to $45 billion.AB InBev shares fell as much as 2.8% early Monday in Brussels. The stock has lost more than 12% over the past 12 months.In its statement Friday, the company said it wasn’t proceeding with the transaction partly due to “prevailing market conditions.” The company may explore options such as selling a minority stake in the Asian business, though there is no immediate plan for a deal, people familiar with the matter said. AB InBev declined to comment.Bold MoveFrom the beginning, investment banks appeared to be overly emboldened by the promise of Asia’s beer boom. Shortly after AB InBev requested proposals last Christmas, one adviser pitched a valuation of $70 billion to $80 billion, according to people familiar with the matter.Seeing the S&P 500 headed for a record high and the success of some IPOs in the U.S., the company and its lead bankers at JPMorgan Chase & Co. and Morgan Stanley decided to offer a bigger stake in the business and try to raise $8 billion to $10 billion, the people said. That’s up from earlier discussions about targeting $5 billion to $6 billion.In the run-up to the pricing of the IPO last week, it became clear that demand from institutional funds didn’t meet the company’s expectations, the people said.AB InBev then guided investors that it could price the sale at the low end of the marketed range of HK$40 to HK$47 a share. Hours before the announcement Friday afternoon in the U.S., advisers had considered cutting the IPO’s size and relaunching the offer in a bid to rescue the deal.However, with several funds pushing to lower the price and threatening to pull orders at the last minute, AB InBev had no choice but to suspend the IPO, the people said.Representatives for JPMorgan and Morgan Stanley declined to comment.Read: AB InBev’s Pricey Brew Was Too Rich for Investors: Nisha GopalanCutting DebtProceeds from the listing would have allowed Chief Executive Officer Carlos Brito to pay down part of AB InBev’s colossal borrowings. The brewer that owns Budweiser as well as Corona, Stella Artois and other brands is wrestling with more than $100 billion in debt, the majority of it taken on to finance its takeover of rival SABMiller Plc in 2016. Now Brito has to find other ways to manage that debt load.Read: AB InBev Seeks Plan B After Investors Bail on Year’s Biggest IPOThe CEO must also contend with rising pressures in the Chinese market, one of the brewer’s most important countries and one that is key for growth in Asia. Beer accounted for about 30% of China’s total alcohol sales in 2015 but Euromonitor expects that to fall below 26% by 2023.While AB InBev commands 43% of the premium market in China, that’s down from 47% in 2014, according to Euromonitor. At the same time, rival Carlsberg A/S increased its share from 9% to 14%.Carlsberg has moved into 32 Chinese cities over the years and it plans to add five more during 2019, according to Graham Fewkes, the company’s executive vice president for Asia.The brewer also markets Tuborg and super premium brands Grimbergen and 1664 Blanc in China. “Growth is going to come from selling higher price products to people that are a bit more curious about the beer they are drinking,” Fewkes said.Heineken in April completed a $3.1 billion investment in the parent of China Resources Beer Holdings Co., China’s top brewer, and is licensing its brand to the state-backed company on a long-term basis. That deal gave the Dutch company access to an enormous distribution network in urban and rural segments of the country, and it reported shipments grew more than 10% in China in the first quarter of the year.To counter a decline in its bigger volume brands, AB InBev has sought a foothold in the craft-beer market through the acquisition of Boxing Cat Brewery. Still, there are clear signs that competitors are chipping away at AB InBev’s dominance in the country’s pricier bars and restaurants.Zhou Xinyu, a 21-year-old student in Shanghai, likes to drink beer from Tokyo-based Asahi Group Holdings Ltd. with sushi. She ranks Budweiser behind Heineken and beer from China’s Tsingtao Brewery Co. Ltd. “Budweiser is the bitterest of the three,” she said.(Updates with share price.)\--With assistance from Manuel Baigorri, Jin Ye, Dinesh Nair and Ben Scent.To contact the reporters on this story: Thomas Buckley in London at email@example.com;Vinicy Chan in Hong Kong at firstname.lastname@example.org;Crystal Tse in Hong Kong at email@example.com;Bruce Einhorn in Hong Kong at firstname.lastname@example.orgTo contact the editors responsible for this story: Rachel Chang at email@example.com, ;Eric Pfanner at firstname.lastname@example.org, ;Fion Li at email@example.com, Anjali Cordeiro, Kenneth WongFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
European stocks ended higher on Monday as trade-sensitive German equities took heart from surprisingly strong Chinese data after worries about domestic growth led to a shaky start. Frankfurt-listed shares had briefly dipped into the red in early trade after Germany's economy ministry pointed to weakness in the manufacturing and services sectors, suggesting a subdued second quarter for Europe's largest economy. The DAX index ended 0.52% higher, however, with investors counting on the European Central Bank to signal further easing of monetary policy at a meeting next week given slowing growth.
Home Credit, a consumer finance lender that counts China as its biggest market, plans to file an initial public offering in Hong Kong later this year, in what could be a potential test of investor appetite in the city's markets, according to a securities filing.The filing on Monday comes two days after brewing giant Anheuser-Busch InBev scrapped plans for an offering of its Asian operations in Hong Kong, citing "prevailing market conditions". The offering, which AB InBev hoped would raise as much as US$9.8 billion, would have been the largest IPO in the world this year.Home Credit, which is based in Prague, did not disclose the size of the offering in a filing on the Hong Kong Exchanges and Clearing (HKEX) website on Monday. Anheuser-Busch scraps its US$9.8 billion IPO for Budweiser in Hong KongTwo people familiar with the offering said the company was targeting raising US$1 billion (HK$7.85 billion), which would make it one of the biggest IPOs of the year in Hong Kong.A Home Credit spokesperson declined to comment.Established in 1997, Home Credit is focused on consumer lending in nine emerging markets in Europe and Asia, including China, India, the Philippines and Russia.The company offers point-of-sales loans in shops, often for consumer goods such as televisions. It also offers cash loans and revolving loan products, such as credit cards.Many of its customers took out the first loan of their lifetime via Home Credit. Hong Kong behind NYSE, Nasdaq in IPO rankings in first half"Advanced data analytics, artificial intelligence and other disruptive technologies are embedded in every step of our customer experience, from application, to approval, to customer management and cross-selling as well as in the collections process," the company said in the filing. "Leveraging our decision-making platform and advanced data analysis technologies, we have reduced the median time to decision to under 30 seconds in the three months ended 31 March 2019 while providing a seamless, simple and mostly paperless application process for our customers."The company first entered the Chinese market in 2007, according to its website.The company is 100 per cent owned by Home Credit Group BV, which is a subsidiary of PPF Financial Holdings.Citigroup, HSBC and Morgan Stanley are acting as joint sponsors on the offering.The largest IPO so far this year in Hong Kong was the listing of China's oldest brokerage Shenwan Hongyuan, which raised US$1.2 billion, according to data provider Refinitiv.The decision by Home Credit to seek an IPO in Hong Kong comes at an uncertain time in the city.The city has seen weeks of protests, including violent clashes with police and the sacking of the Legislative Council building, over a controversial extradition bill that has since been withdrawn. The bill would have made it easier to send people from Hong Kong to mainland China for trial.The city's economy has also been hit by a year-long trade war between the US and China that has weighed on growth.Logistics real estate developer ESR Cayman postponed its IPO in Hong Kong last month, citing "current market conditions".This article originally appeared in the South China Morning Post (SCMP), the most authoritative voice reporting on China and Asia for more than a century. For more SCMP stories, please explore the SCMP app or visit the SCMP's Facebook and Twitter pages. Copyright © 2019 South China Morning Post Publishers Ltd. All rights reserved. Copyright (c) 2019. South China Morning Post Publishers Ltd. All rights reserved.