Jul 2, 2019 - Economy & Business

Anheuser-Busch InBev seeks to raise over $9.8 billion in Hong Kong IPO

Dan Primack, author of Pro Rata

Illustration: Lazaro Gamio/Axios

Anheuser-Busch InBev disclosed that it will seek to raise upward of $9.8 billion in a Hong Kong IPO of its Asia-Pacific business.

Why it matters: This could become the year's largest IPO, topping the $8.1 billion raised in May by Uber. It also could give the unit an initial market cap of nearly $64 billion (around the same size as Heineken), and help AB InBev cut into a debt pile it built via the 2016 purchase of SABMiller.

The bottom line: "The company is counting on the region’s growth potential to draw interest in the shares as the beer business faces stagnating prospects elsewhere. AB InBev has already cornered the premium market in China and has been buying up local craft brands to reach fashionable millennials with a taste for more expensive brews," reports Bloomberg

Go deeper: Boston Beer Co. and Dogfish Head sign $300 million merger

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Axios
6 mins ago - Politics & Policy

Biden hits back at Trump interruptions: "Will you shut up, man?"

The first presidential debate got off to a raucous start on Tuesday night, with President Trump repeatedly interrupting Joe Biden to the point that the Democratic nominee told his opponent to "shut up."

Why it matters: About half an hour in, the debate had become increasingly difficult to watch due to the near-constant cross-talk. Some aides had feared that Biden would lose his cool in response to Trump's antics, but the result has mostly been that the debate has centered around each candidate sniping at each other, rather than putting forward a vision for the country.

Axios
Updated 6 mins ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 9:30 p.m. ET: 33,511,752 — Total deaths: 1,004,808 — Total recoveries: 23,269,976 — Map.
  2. U.S.: Total confirmed cases as of 9:30 p.m ET: 7,188,071 — Total deaths: 205,942 — Total recoveries: 2,809,674 — Total tests: 103,155,189 — Map.
  3. Health: Americans won't take Trump's word on the vaccine, Axios-Ipsos poll finds.
  4. Politics: 7 former FDA commissioners say Trump is undermining agency's credibility
  5. States: NYC's coronavirus positivity rate spikes to highest since June.
  6. Sports: Tennessee Titans close facility amid NFL's first coronavirus outbreak.
  7. World: U.K. beats previous record for new coronavirus cases.
  8. Work: United States of burnout — Asian American unemployment spikes amid pandemic
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Jacob Knutson
2 hours ago - Technology

Misinformation thrives on social media ahead of presidential debate

Joe Biden speaking in Wilmington, Delaware, on Sept. 27. Photo: Roberto Schmidt/AFP via Getty Images

A baseless conspiracy theory that Joe Biden would wear an electronic device in his ear during the first presidential debate on Tuesday went viral on social media hours before the event.

Why it matters: The conspiracy originated on social media before appearing in a text message sent by President Trump’s re-election campaign to supporters. It was then regurgitated by media outlets like Fox News and New York Post, who cited the Trump campaign, throughout the day, according to NBC News.

Go deeper (1 min. read)Arrow