China's Tsingtao Brewery Co has completed the sale of the first segment of its third tranche of convertible bonds to Anheuser-Busch International Holdings Inc, it said.

Anheuser-Busch International, a subsidiary the world's number one brewer Anheuser-Busch, subscribed to HK$254.14m in convertibles issued by Tsingtao Brewery yesterday. The bonds can be converted into 57.11 mln new H-shares.

The sale of the second segment of the third tranche of the convertible bonds is expected to be made by April next year.

Last year, Anheuser-Busch said it would increase its stake in Tsingtao from 4.5% to 27% after it subscribed to all three tranches.

24 October, 2003