The Asia-Pacific unit of Anheuser-Busch InBev is seeking to raise as much as $9.8bn in what could be the biggest food and beverage IPO globally.

Budweiser Brewing Company APAC, the Asia-Pacific business of the world’s biggest brewer with a market capitalisation of nearly $151bn, will launch bookbuilding for its Hong Kong IPO later Tuesday, ahead of a planned debut on July 19, people familiar with the matter said.