![#](https://e-malt.com/Images/left_top_corner16x200.gif) | E-Malt.com News article: Hong Kong: Tsingtao Brewery shares trading suspended![Brewery news](https://e-malt.com/Images/BeerBullet2.gif)
Trading in shares of Tsingtao Brewery Co. Ltd. was suspended August 29, the Hong Kong exchange said, Reuters released August 29.
A company executive told Reuters that the suspension was pending a price-sensitive announcement from Tsingtao's largest shareholder, Qingdao State-owned Assets Administration Office. No further details were immediately available.
Its Shanghai-listed A-shares were also suspended. Tsingtao Brewery's Hong Kong-listed shares closed down 0.66 percent August 28 at HK$9.00.
The company posted a 22.5 percent rise in first-half earnings after the market closed August 28 as surging sales in the fast-growing mainland market helped offset fierce competition.
Tsingtao, which is 27 percent-owned by top U.S. beer maker Anheuser-Busch Cos. Inc., is relying on growth of its flagship brand to help lift prices and margins in a country where a 640 ml bottle -just over a pint - can cost only 12 U.S. cents.
30 August, 2006
|
|