Home / World News / Hong Kong rates hit 2008 highs, dollar rallies before jumbo InBev IPO

Hong Kong rates hit 2008 highs, dollar rallies before jumbo InBev IPO

Brewer Anheuser-Busch InBev (AB InBev) is seeking to raise up to $9.8 billion by listing its Asia-Pacific business in Hong Kong this month

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Reuters Hong Kong

2 min read Last Updated : Jul 05 2019 | 12:57 AM IST

The Hong Kong Interbank Offered Rate (HIBOR) rose across the curve on Thursday, with investors scrambling for cash ahead of the world’s biggest initial public offering of the year at a time of tight liquidity in the domestic market.

Brewer Anheuser-Busch InBev (AB InBev) is seeking to raise up to $9.8 billion by listing its Asia-Pacific business in Hong Kong this month.

On Thursday, the one-month and two-week tenors shot up to 2.99 per cent and 3.53 per cent, respectively, their highest since October 2008, while two-month and three-month HIBOR reached their highest levels since November that year.

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Topics : AB InBev Hong Kong stock market

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