Yanjing lowers price of private share placement

Beijing Yanjing Brewery, China’s third-largest brewer, said it would lower its asking price on a planned private share placement for the second time to help persuade uneasy investors, the South China Morning Post reported. Yanjing dropped the per-share price to RMB10 (US$1.46) from the RMB17.88 (US$2.61) it was asking for in May. The company is aiming to sell as many as 110 million shares on the Shenzhen exchange, where it is listed. The share sale is pending regulatory approval. Shares of Yanjing have fallen 55.05% this year, and closed yesterday down 1.61% at RMB10.41 (US$1.52).