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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

Go deeper

The new Washington

Illustration: Sarah Grillo/Axios

The Axios subject-matter experts brief you on the incoming administration's plans and team.

Rep. Lou Correa tests positive for COVID-19

Lou Correa. Photo: Tom Williams/CQ-Roll Call, Inc via Getty Images

Rep. Lou Correa (D-Calif.) announced on Saturday that he has tested positive for the coronavirus.

Why it matters: Correa is the latest Democratic lawmaker to share his positive test results after sheltering with maskless colleagues during last week's deadly Capitol riot. But he did not specify whether his diagnosis was connected to the siege.

Far-right figure "Baked Alaska" arrested for involvement in Capitol siege

Photo: Shay Horse/NurPhoto via Getty Images

The FBI arrested far-right media figure Tim Gionet, known as "Baked Alaska," on Saturday for his involvement in last week's Capitol riot, according to a statement of facts filed in the U.S. District Court in the District of Columbia.

The state of play: Gionet was arrested in Houston on charges related to disorderly or disruptive conduct on the Capitol grounds or in any of the Capitol buildings with the intent to impede, disrupt, or disturb the orderly conduct of a session, per AP.