Quilmes Industrial has revealed a small drop in the number of shares in the company.

Quilmes, also known as Quinsa, said yesterday (1 August) that its total number of shares has been reduced to 679,291,257 from 680,540,934 following a recent conversion.

A total of just under 1.4m class A shares were converted into 138,853 new class B shares by shareholders in the conversion, the company said. The breakdown of shares is now 630.3m class A shares and 48.9m class B shares.

Quinsa owns a 93% stake in Quilmes International (Bermuda), which controls, among other companies, the top-selling beer brand in Argentina, and 100% of PepsiCo beverage sales in both Argentina and Uruguay. AmBev owns the remaining 7%.