IPO to go ahead
On 1 December the Belgian brewer Interbrew went public on the Euronext exchange in Brussels by issuing 88.2 million shares (or 21 % of the company) at an asking price of € 30 to € 38. The offer had been more than four times subscribed. Interbrew’s shares opened at € 34. It is believed that the IPO will put up to € 3.3 billion into Interbrew’s coffers to be spent on continuing its acquisition programme. Interbrew’s market capitalisation will range between € 12.6 billion and € 16 billion. In 1999 Interbrew sold 55.7 million hl of beer world wide. In 2000 its output will have reached 80 million hl, including the UK brewers’ output acquired several months ago. Interbrew now ranks second behind Anheuser-Busch in the global brewers’ Top 10 ranking..
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