Budweiser Brewing Company APAC (1876.HK), the Asia operations of global brewer AB InBev, raised HK$35.1 billion (US$5.0 billion) in its IPO. The company commands a market value of HK$378 billion (US$48.2 billion) and qualifies for inclusion in the Renaissance International IPO ETF effective Thursday, October 10, 2019.
The Renaissance International IPO ETF is designed to provide investors with efficient exposure to a portfolio of non-U.S.-listed newly public companies ahead of their inclusion in core equity portfolios. By tracking the rules-based Renaissance International IPO Index, the Renaissance International IPO ETF includes the most economically significant non-U.S.-listed newly public companies. Sizable IPOs are added on a fast entry basis and the rest are added during scheduled quarterly reviews. Companies are removed two years after their initial trade date, when they become seasoned equities.
