Anheuser-Busch InBev or AB InBev said it has canceled its planning initial public offering for its wholly-owned Asian subsidiary, Budweiser APAC.
AB InBev was expected to list the Asian unit to increase investment and ramp-up its competitive ability across the region.
The beer giant said in a statement 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,” the company said.