Beer Giant Puts Year's Biggest IPO On Ice

International beer giant Anheuser-Busch InBev has pulled out of a Hong Kong listing of its Budweiser Asia-Pacific unit, which would have been the year's biggest initial public offering.

The listing had been expected to raise as much as US$9.7 billion, beating Uber's New York listing as the biggest of the year. But reports said it struggled to attract offers that would match the HK$40 to HK$47 price range it was targetting.

"The company is not proceeding with this transaction due to several factors, including the prevailing market conditions,"Anheuser-Bush InBev said in a statement.

"The company will closely monitor market conditions, as it continuously evaluates its options to enhance shareholder value, optimise the business and drive long-term growth, subject to strict financial discipline."

Anheuser-Busch InBev shares fell 3 per cent in New York on Friday as news emerged that the listing was to be scrapped.