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Yanjing Brewery placement raises $164m

(Agencies)
Updated: 2008-12-13 16:56

Yanjing Brewery Co, one of China's biggest beer makers, said on Saturday that it had raised 1.12 billion yuan ($164 million) through a share placement.

The company issued 110 million new shares at 10.20 yuan each, a 21 percent discount to its last market price of 12.98 yuan. Of the total, 88 million shares went to its parent company and the rest to three fund management companies.

Yanjing Brewery said it would use funds raised to expand its production capacity and establish new facilities in outlying regions of the country including Inner Mongolia and Xinjiang.

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