Wine maker to list B shares

Wine producer Changyu Group Co, based in Yantai, Shandong province, is to offer and list 80 million B shares.

A company executive said official approval had been given, but he gave no other details.

Changyu Group expected to raise 300 million yuan (about HK$279 million) from the issue and would use the money to expand production and buy two small firms, International Business Daily said.