AB InBev searches for Plan B after Asia IPO flop

FILE PHOTO: Portfolio beer brands of Budweiser Brewing Company APAC Ltd are displayed during a news conference on the company's IPO in Hong Kong, China July 4, 2019. REUTERS/Andrew Geoffrey Jackson/File Photo

Anheuser-Busch InBev NV shares fell after the demise of a blockbuster initial public offering of the brewer’s Asian business, leaving the company in a bind.

After reversing course on Friday over plans to sell a stake in the unit to raise as much as $9.8 billion, the Budweiser owner needs to find a new way to reduce its $100 billion-plus debt pile and mollify shareholders, while reinvigorating a business that’s lost its fizz and keeping credit-rating agencies at bay. Standard & Poor’s has a negative outlook on AB InBev’s debt, which it ranks A-, the fourth-lowest investment grade.

Bring stories like this into your inbox every day.

Sign up for our newsletter - The Daily Brief
Subscribe to Newsletter