China: Tsingtao Brewery eyes 1.5 billion Yuan bond sale to boost output

Tsingtao Brewery Co, China's second-biggest beer maker, plans to raise as much as 1.5 billion Yuan (202 million U.S. dollars) selling bonds on the Chinese mainland to expand production in the world's biggest beer market, Shanghai Daily reported November 12.

The company will sell 6-year bonds with call warrants for shares, it said in a Hong Kong Stock Exchange statement. Shareholders will vote on the plan on Dec. 27, it added.

Tsingtao Brewery will add one million tons of new production capacity next year to increase sales, Chairman Li Guirong said on Aug. 12. The company's sales trail China Resources Snow Breweries Co, which is 49 percent owned by SABMiller Plc.

14 November, 2007