The deal is Asia’s biggest listing so far this year and the world’s sixth largest.
Parent CK Hutchison plans to reduce its stake to below 50 per cent and will include a secondary share sale as part of the HK listing.
A planned Hong Kong initial public offering (IPO) for the Asian business could raise up to $5 billion for the heavily indebted brewer.
Hansoh Pharmaceutical had initially looked to raise up to $1 billion.
Others who have secured virtual banking licences include JVs of StanChart and BOC Hong Kong and ZhongAn Technologies arm.
Huya is part of a growing trend of Chinese tech companies returning to capital markets for cash soon after their initial public offering (IPO).
The sale was Asia’s largest this year, Refinitiv data showed, exceeding property developer China Evergrande Group’s $2.8 billion issue in January.
Tencent last tapped the bond market in January last year, in which it raised $5 billion. It plans to launch the latest sale on Wednesday.
The company is selling a $300 million seven-year convertible bond and 17.1 million shares, of which 10.55 million are primary.
The five-year old company has decided to put off those plans as it is not ready to go public.