China: Tsingtao shares suspended in the expectation of a significant announcement

Shares in Tsingtao Brewery, China's best-known beer brand, were suspended pending a significant announcement next Monday, the company said, Reuters reported November 9.

"We are working on an important matter and should make an announcement on Monday," a company spokeswoman said, declining to give further details.

In October, the firm said it was broadening its international reach, targeting consumers in Southeast Asia by building its first overseas plant in Thailand.

The Thailand project is worth 294 million yuan ($39 million), with Tsingtao owning a 40 percent stake, and will produce 80,000 kilolitres of beer per year upon completion.

Shares of Tsingtao Brewery ended at HK$24.85 on Thursday.

Tsingtao is 27 percent-owned by top U.S. beer maker Anheuser-Busch Cos Inc.

09 November, 2007