02 February, 2005

Hong Kong: Heineken NV bought 100,000 shares at 2.80-2.85 hkd each in Kingway Brewery Holdings Ltd, the Securities and Futures Commission (SFC) said on January 31. According to AFX, it said in a statement, Heineken acquired the shares from Jiang Jin, a director of GDH Ltd, Kingway's controlling shareholder. About 50,000 shares were sold to Heineken at 2.80 hkd each and the rest at 2.85 hkd.

The shares combined represent a small fraction of Kingway's total issued shares of 1.395 bln. Following its sale, Jiang's shareholding in Kingway will be reduced to 350,000 shares or 0.025 pct of Kingway's issued share capital. (1 usd = 7.8 hkd)

Last month, Heineken, which has a 21% holding in the Chinese company, said it was not excluding lifting its stake to 50% or more.

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