Leading trio act on HK's largest IPO in 2019

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Three leading firms were involved in the largest IPO so far in Hong Kong this year.

Freshfields Bruckhaus Deringer and Sullivan & Cromwell advised Anheuser-Busch InBev (AB InBev) on the US$5bn IPO of tis Budweiser Brewing Company APAC Ltd business on the Hong Kong Stock Exchange (HKEX).

Clifford Chance advises the joint sponsors of the float, which is second only globally to Uber’s US$8.1bn debut earlier this year.

The deal would have been the largest in the world so far in 2019 if AB InBev succeeded with the debut of its Asia-Pacific business that was planned for earlier this year. The brewing giant wanted to raise as much as US$9.8bn initially, but pulled the plug in July.

Teresa Ko, partner and China chairman, headed the Freshfields team. She was supported by partners David Ludwick, Vincent Macq, and Valerie Ford Jacob. Freshfields also advised AB InBev in its $16bn acquisition of Australia’s largest brewer earlier this year.

Partners Francis Aquila, John Horsfield-Bradbury, and Kay Ian Ng headed the Sullivan & Cromwell.

Partners Virginia Lee and Jean Thio led the Clifford Chance team. They were supported by partner Amy Lo; senior associates Janet Tang and Gehuan Liu; associates Helen Huang, Eunice Leung, Jeff Wong, and Emma Bao; and trainees Michelle Sum and Anson Wong.