Brewing giant Anheuser-Busch InBev is seeking to raise up to $9.8 billion from a Hong Kong listing of its Asia-Pacific business, marking what would be the world's largest initial public offering this year. 

Budweiser Brewing Company includes a portfolio of over 50 beer brands in the region.

It is selling 1.6 billion shares at between HK$40-$47 ($5.13-$6.02) each, according to documents seen by Reuters. 

The deal will raise between $8.3 billion and $9.8 billion for heavily-indebted AB InBev before any over-allocation option is included, giving Budweiser Asia a market capitalisation of up to $63.7 billion after the IPO. 

Even at the low end of the price range, the IPO will be the biggest globally this year, outstripping the $8.1 billion raised in New York by Uber, data from Refinitiv shows. 

AB InBev has previously said an IPO of its Asia business could help create a brewing champion for the region, where wealthy consumers are increasingly trading up to higher-margin premium beers, such as Budweiser or Corona. 

The deal will be a welcome boost to Hong Kong, which is lagging behind the New York Stock Exchange and Nasdaq in terms of IPOs this year, with $8.9 billion to its credit compared with $14.9 billion and $17.5 billion raised by its US rivals. 

The biggest listing in the Asian financial hub so far in 2019 has been that of Chinese securities firm Shenwan Hongyuan which raised $1.2 billion in April.

The investor response to the offering will also act as a barometer for other large share sales in the near future, with Alibaba Group considering raising as much as $20 billion through a listing in Hong Kong. 

Budweiser Asia's deal is expected to price in New York on July 11 and the stock will debut in Hong Kong on July 19.