Beijing Yanjing Brewery Co is stepping up production in its domestic market

Beijing Yanjing Brewery Co plans to raise up to CNY2.62bn (US$414.8m) to fund 11 projects in China and boost its production capacity, according to local reports. 

The world's ninth biggest brewer by volume sales is aiming to raise the funds through a public offering of no more than 520m shares, according to chinaknowledge.com. The proceeds will be used for 11 projects, involving capital injections into subsidiaries across eight Chinese provinces. 

This will include CNY454m being injected into Xinjaing Yanjing Brewery Co, adding 100,000 kilolitres of beer capacity. A beer JV will also be established, according to the reports. 

The group will also  pump CNY280m in to Sichuan Yanjing Brewery Co to build a 100,000-kilolitre beer line and a beer can line, reports suggested. 

Earlier this year, Beijing Yanjing Brewery Co was thought to be among the front runners to capture China's Kingway Brewery. However, in June reports suggested it had pulled out of the race and this speculation has been repeated today.