SAB edges to premium on debut

SHARES IN South African Breweries edged to a small premium on their first day of trading on the London stock market yesterday.

SAB, the world's fourth-largest brewer, which is moving its primary stock market listing to London, placed 35 million shares at 428p, raising pounds 150m. The shares touched 460p before closing at 447p.

The company, whose brands include Castle beer, is valued at pounds 3.5bn at yesterday's closing price, making it a candidate for inclusion in the FTSE 100 index.