China: Tsingtao Brewery Co. Ltd. starts share reform after lead shareholder raises stake
Tsingtao Brewery Co Ltd said it has started the restructuring of its state shareholdings after the company's largest shareholder increased its stake to 32.76 pct, Forbes informed August 30.
The company said in a statement filed to the Shanghai Stock Exchange that Qingdao Guoxin Industrial Co, a fully-owned subsidiary of the State-owned Assets Supervision and Administration Commission (SASAC) of Qingdao, has acquired a 2.2 pct stake in listed Tsingtao Brewery from China Orient Asset Management Corp.
Guoxin's ownership could be diluted when the state shareholdings are restructured, via the offer of bonus shares to public shareholders.
This could make it possible for Anheuser-Busch, which currently holds a 27 pct stake in Tsingtao Brewery, to acquire a controlling interest in the company, if SASAC does not increase its investment.
(US$1 = CHY8.00)
Wstecz
E-malt.com, the global information source for the brewing and malting industry professionals. The bi-weekly E-malt.com Newsletters feature latest industry news, statistics in graphs and tables, world barley and malt prices, and other relevant information. Click here to get full access to E-malt.com. If you are a Castle Malting client, you can get free access to E-malt.com website and publications. Contact us for more information at marketing@castlemalting.com .
