Exceptional start for red chip

PUBLISHED : Wednesday, 25 June, 1997, 12:00am
UPDATED : Wednesday, 25 June, 1997, 12:00am

Red chip Beijing Enterprises Holdings says it will record an exceptional profit of $211 million this year in addition to a net profit of $350 million. The company said a subsidiary of its 80 per cent owned Yanjing Brewery would raise 587.2 million yuan (about HK$544.9 million) by issuing 80 million A shares, or 25.9 per cent of enlarged share capital, at 7.34 yuan each. The A shares will be listed on the Shenzhen exchange.