Wuliangye Yibin Co, China’s leading liquor maker, has disclosed a mixed-ownership reform plan, under which it aims to raise up to 2.3 billion yuan ($364.04 million) in a private share placement to fund projects, according to a filing with the Shenzhen Stock Exchange on Saturday [31 October 2015]. Experts said the move is meaningful for the company’s own business as well as reforms by other State-owned liquor makers. Wuliangye will issue shares to employees, distributors and strategic investors via a private placement, the statement said…Full Article: ECNS.cn Nov 2015
- Wuliangye will reportedly invest the money in marketing centers and e-commerce platforms.
- From 2013 to 2014, Wuliangye’s net profit decreased 26.8% to CNY 5.83 billion (~US$947 million).
- In February 2013, Wuliangye was fined CNY 202 million (US$32.3 million) by China’s NDRC for price fixing.
- With roots going back to the early 1950s, Wuliangye was established in 1998 in Yibin, Sichuan province. A rival of Kweichow Moutai, Wuliangye is an alcoholic beverage producer that specializes in the production of baijiu liquor. The company has a numerous baijiu products that vary in strength.