11 May, 2007

South Korea: Hite Brewery stocks up on Lazard’s small stake buy

Shares in the country's top brewer rose 1.98 percent to 129,000 won after announcing on Thursday that U.S. firm Lazard Asset Management had bought a 5.2 percent stake in Hite in the market, Reuters reported May 11.

Any purchase of more than 5 percent in a listed company must be publicly disclosed, according to South Korean law.

Hite is also set to raise on Friday prices for its popular domestic liquor soju by 800 won, or a 4.92 percent increase, local media reported.

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