When AB InBev’s Asia brewing business launched its second attempt at a Hong Kong stock market listing last week, chief executive Jan Craps faced a volley of questions about whether the territory was still the best venue for an initial public offering of almost $5bn after more than three months of political upheaval.
“We believe Hong Kong is the best financial centre for us in Asia to do the listing,” he said. “There is a very bright future for Hong Kong as a financial centre.”
Mr Craps is unusually upbeat. The flow of initial public offerings in Hong Kong has nearly evaporated in recent months, as companies hold off on planned listings in the face of volatility spurred by an escalating US-China trade war and intensifying violence between police and protesters on the Asian financial hub’s streets.