30 August, 2005

China: Kingaway’s share down as Heineken doesn’t increase its stake in company

The share of the Chinese brewer Kingway fell on August 29. The background for this situation was that Heineken APB (China) PSE Ltd., one the largest shareholders, closed the negotiations for increasing its stake in the enterprise.

Initially Heineken had the intention to raise its stake from 21,44 % on up to 50 %. This plan was described now as terminated. The largest Shareholder, the GDH Ltd. holds 52.63 % in Kingway

The share of Kingway dropped on August 29by around 12 % down to 2,50 HK-$.

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