Moutai Group relinquishes control of unit, removing hurdle to IPO

Moutai Group relinquishes control of unit, removing hurdle to IPO

Photo: Eric Prouzet/Unsplash

The parent of luxury liquor-maker Kweichow Moutai has agreed to hand over most of its stake in a wholly-owned liquor-making subsidiary to a local government agency in a move that could help the company comply with rules that stymied a prior attempt to list it.