Zhujiang Brewery’s private displacement of 4.3 billion yuan approved by China Securities Regulatory Commission
On September 7, the application of Guangzhou Zhujiang Brewery Co. Ltd to issue
the non-public A-share was approved by China Securities Regulatory Commission.
Therefore, no more than 4.312 billion yuan will be collected from three special investors
and six strategic projects will be initiated which serves as a strong support for the
improvement of the company’s ownership structure and the thirteenth five-year plan.
The funds will be invested in projects including beer production capacity enlargement
and relocation, craft beer production line and experience store construction, transformation
and upgrade of Zhujiang Party Pier Cultural and Creative Art Zone, modern sales network
construction and upgrade, O2O sales network construction and promotion, informationization
platform construction and brand promotion.
Guangzhou State-owned Assets Development Co. Ltd subscribes no more than 2.5 billion yuan,
after which related parties and it will hold over shareholding ratio of 52.91%. Anheuser-Busch InBev’s
shareholding will raise to 29.99% after offering to buy no more than 1.5 billion yuan. Employee
stock ownership plan (ESOP) will purchase 62.5289 million yuan.
As an important measure of state-owned enterprise reforms, the private placement reflects
Zhujiang Brewery’s quick response to opinions on deepening the reform of state assets by
Guangzhou Municipal People’s Government through active moves in enhancing the
complementary advantages of state assets and market capitals. It also demonstrates
strong supports and confidence of Guangzhou Municipal People’s Government for
Zhujiang Brewery’s future. Through in-depth cooperation with ABInBev, Zhujiang Brewery
will depend on its technical advantages, learn its rich experiences on transnational and
trans-regional management and sales network. ESOP is adopted so that reasonable
motivation and restriction mechanism can be established to boost internal growth
impetus, allowing employees to share the fruits and responsibility of the company.