Company news in brief

AB InBev Asia raises US$5 bn in IPOAB InBev said it has raised about US$5 billion in a Hong Kong IPO of the brewer's Asia-Pacific unit after pricing it at the bottom of a marketed range, as investors backed a deal seen as offering value despite the city being hit by protests.The IPO of the unit of Anheuser-Busch InBev NV (AB InBev), the world's largest brewer, is the second-biggest globally so far this year, trailing only the US$8.1 billion flotation of Uber Technologies Inc in May, data from Refinitiv showed.AB InBev said in a statement yesterday the IPO of Budweiser Brewing Company APAC Ltd was priced at HK$27 (US$3.44) per share, the bottom end of the HK$27 to HK$30 indicative range.The IPO included a rare "upsize" option that enabled the Belgium-based brewer to sell up to 36.8% more shares in the offering. That option was partially exercised, it said.At HK$27 per share, Budweiser will have a market value of US$45.6 billion. – Nampa/ReutersFirst Quantum confirms Zambia stake sale talksCanada's First Quantum Minerals Ltd on Monday confirmed it was in talks with China-based Jiangxi Copper Co Ltd for a potential sale of a minority interest in its Zambian copper assets.The company, however, said it had no knowledge of any potential takeover bids, sending its shares down 10% in morning trading.The company has been embroiled in a dispute with the Zambian government after being handed a US$5.8 billion bill for unpaid import duties last year.A minority stake in First Quantum's Zambian assets - Kansanshi and Sentinel - could fetch about US$2 billion, according to Scotiabank analysts.The company produced 605 853 tonnes of copper in 2018, with the Kansanshi and Sentinel mines accounting for more than 78% of the total production. First Quantum had a market valuation of C$8.42 billion as of Friday close. – Nampa/ReutersTotal to accelerate dividend growthFrench heavyweight oil and gas group Total raised its dividend outlook yesterday and issued upbeat forecast over its prospects.Total said it would increase its dividend by 5-6% per year, up from a previous target of 3%, which in turn would result in a third interim dividend of 0.68 euro per share for 2019."This results notably in a projected increase in the group's cash flow of more than US$5 billion by 2025 in a US$60 per barrel environment, or an average increase of about US$1 billion per year," added the company.Oil prices have been at comparatively elevated levels for the year in the wake of the 14 September attacks on Saudi Arabia's largest oil processing facility that halved output in the world's top oil exporter.In July, Total said it would sell about US$5 billion of assets, mostly from its exploration and production business as it sharpens its focus on low-breakeven projects that can weather any weakness in oil prices. – Nampa/ReutersHonda to cease diesel vehicle salesHonda Motor Co Ltd said on Monday it would phase out all diesel cars by 2021 in favour of models with electric propulsion systems, as the Japanese automaker moves to electrify all of its European cars by 2025.Honda is the latest automaker cutting production of diesel cars to meet stringent global emissions regulations. The plan is part of its long-term goal to make electric cars, including all battery-electric vehicles, to account for two-thirds of its line ups by 2030 from less than 10% now.By next year, according to European Union emission targets, CO2 must be cut to 95 gram per km for 95% of cars from the current 120.5 gram average, a figure that has increased of late as consumers spurn fuel-efficient diesels and embrace SUVs. All new cars in the EU must be compliant in 2021.For Honda, declining demand for diesel vehicles and tougher emissions regulations have clouded its manufacturing prospects in Europe.Japan's No. 3 automaker has said it would cut the number of car model variations to a third of current offerings by 2025, reducing global production costs by 10% and redirecting those savings toward advanced research and development. – Nampa/ReutersAramco IPO unlikely to happen this yearSaudi Arabia is unlikely to list its oil giant Aramco this year after attacks earlier this month on oil facilities, two sources with direct knowledge of the company's thinking said.The initial public offering (IPO) of Aramco - the world's largest oil company – is the pillar of Saudi reforms aimed at diversifying the economy away from oil by attracting foreign capital.Aramco did not immediately respond to a request for comment. The sources declined to be identified because the information is not public.The deal, which was delayed last year, was expected to take place as early as November, sources had said, for an offering of 1% of the company on the Saudi bourse, the first step of a targeted 5% sale that could potentially raise US$100 billion.Aramco's chairman, Yassir al-Rumayyan, said last week following the attacks, which initially halved the crude output of the world's top oil exporter, that it would be ready for the IPO within one year. – Nampa/Reuters

Company news in brief

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Republikein 2026-01-12

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