Published by: THE WORLD UYGHUR NETWORK NEWS May 20, 1997
AP-Dow Jones News Service, 05/15/97
SHANGHAI -- Xinjiang Qingong Co. will issue 30 million Class A shares
Monday, the company said in a prospectus published in a local newspaper
Thursday.
The shares will be underwritten by J&A Securities Co. and priced at
4.05 yuan each. Placement will take place in the Xinjiang capital of
Urumqi. The shares will list on the Shanghai bourse.
The 116.9 million yuan in expected proceeds will be invested in the
expansion of a hops processing project with annual capacity of 6,000
tons and barley production base, which currently covers 9,882 acres of
land.
Xinjiang Qingong is the largest hops and barley grower in China. Its
annual production of dried hops, granulated hops and barley reaches
6,000 tons, 4,200 tons and 10,000 tons respectively. Class A shares
are reserved for trading by national Chinese investors.
