30 January, 2003

Fujian Huiquan Brewery Group, The Chinese brewer, is expecting to raise CNY452.56m ($54.53m) through the issue of 63m A-shares in an initial public offering, scheduled for February 11, 2003. The shares are priced at CNY7.44 ($0.90) each, which is 20 times the company's fully diluted earnings per share in 2002. The IPO is open to secondary market investors with holdings of at least CNY10,000 ($1,205).(just-drinks)

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