Jinro delays relisting of shares

SEOUL, Sept. 27 (Yonhap) -- Jinro Ltd., South Korea's top distilled liquor
producer, said Sunday it has decided to postpone the relisting of its shares on
the local bourse by nearly three weeks.

The relisting date, originally scheduled for Sept. 30, has been reset for Oct.
19, said Jinro, which controls 52 percent of the local market for soju, a popular
distilled liquor. No specific reason for the postponement was given.
Jinro was de-listed from the Seoul main bourse in 2003 after it went bankrupt. In
2005, South Korea's top beermaker, Hite Brewery Co., acquired the company.
"Through a share relisting, Jinro will try to reestablish itself as the country's
leading soju maker and emerge as a global corporation by starting full-fledged
operations in China and Japan," said CEO Yoon Jong-woong
In a statement, Jinro said it will push to merge its sales networks with those of
Hite Brewery in 2011 as part of efforts to create synergy.
Jinro, which was set up in 1954, posted a net profit of 154.8 billion won (US$131
million) on sales of 735.2 billion won in 2008.
Hite Holdings Co., which owns Hite Brewery, currently owns a a controlling 55.4
percent stake in Jinro.
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