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World's top brewer revives listing plans, halves IPO size
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World's top brewer revives listing plans, halves IPO size
AB InBev, the world's largest brewer that produces Budweiser and Corona, on Tuesday revived plans to list its Asian business in Hong Kong but halved the size of its initial public offering to $4.8 billion. The move comes two months after it temporarily shelved plans to raise $9.8 billion in what would have been the world's biggest IPO this year, citing market conditions due to prolonged, sometimes violent protests for democratic reforms in Hong Kong. It still will be the biggest IPO in the semi-autonomous Chinese territory and will provide a shot-in-the-arm for the government as it seeks to assuage international jitters over the unrest that showed no signs of ending.
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