Budweiser Brewing Company APAC Ltd.'s stock rose as much as 4.07% to HK$28.01 from its offer price of HK$27 when it started trading in Hong Kong Sept. 30.
The Asia-Pacific arm of Anheuser-Busch InBev SA is offering 1,262,350,000 shares, or 9.53% of its outstanding stock, at the bottom end of its price range of HK$27 to HK$30.
The stock opened at HK$27.40.
AB InBev is looking to raise HK$39.2 billion from the IPO, about half of its initial target of HK$76.45 billion when it first filed for the listing in July. The brewer called off the plan over a week later, citing prevailing market conditions.
The company intends to use the net proceeds from the IPO to reduce its debt.
