Altria cuts stake in AB InBev, shares dip amid secondary offering

Anheuser-Busch InBev (BUD) saw its American Depositary Receipts (ADRs) fall by over 5% on Thursday. The downturn followed the announcement from Altria (MO) that it would reduce its 10% stake in the world’s largest brewer through a secondary offering at a discounted price, triggering market reactions and investor speculation. Altria to offload 35 million shares […]