Books already covered for Budweiser APAC IPO up to $ 9.8 billion – sources

HONG KONG (Reuters) – Investors have already subscribed for more shares than brewing giant AB Inbev (ABI.BR) offers floating in its operations in Asia-Pacific, according to sources involved in the largest public offering (IPO) the largest in the world so far this year.

Budweiser APAC, which signed its deal last week, is seeking to raise between $ 8.3 billion and $ 9.8 billion (£ 6.63 billion and £ 7.83 billion) via the Hong Kong float, including a much of it will be spent on repaying the debt of his highly indebted parent.

AB Inbev, the world's largest brewer, is working to reduce the debt of more than $ 100 billion from the purchase of competitor SABMiller in late 2016.

Two sources knowing the Budweiser APAC agreement said that he was already oversubscribed. The deal is due to the price in New York on Thursday.

Both sources refused to be named because they were not allowed to speak publicly about the agreement. One of them said the actions were already "very good" oversubscribed.

An outside spokesperson for AB Inbev did not immediately respond to a request for comment.

The company and its bankers launched an introductory tour of the operation last week in Asia. On Monday, they will meet investors in London before heading to Boston and New York.

Budweiser Brewing Company APAC Ltd. (Budweiser APAC), whose portfolio of more than 50 beer brands includes Stella Artois and Corona, as well as its eponymous label, has positioned its spin-off as creating a champion of the # 1 39; Asia Pacific.

Beer sales are growing in the region as more and more affluent consumers turn to premium beer brands.

Demand for the transaction is closely monitored as it gauges investors' appetite for stock sales after a fragile start to the year.

Even at the bottom end of its price range, Budweiser's APAC IPO will be the largest in the world this year, surpbading Uber's $ 8.1 billion in New York.UBER.N), according to Refinitiv data.

Hong Kong is also preparing a list of up to $ 20 billion from China's Alibaba e-commerce group (BABA.N) In the coming months.

Global equity listings hit their lowest level in three years in the first half, as the slowdown in Europe thwarted the improvement in the US index.