Liquor Maker Moutai Surpasses ICBC as Biggest China-Listed Stock

(Bloomberg) --

Chinese liquor giant Kweichow Moutai Co. has dethroned Industrial & Commercial Bank of China Ltd. as the mainland’s biggest stock by market value.

The maker of the alcoholic beverage baijiu is now worth 1.81 trillion yuan ($256 billion), versus 1.78 trillion yuan for ICBC. While Moutai finished essentially flat in Monday trading, ICBC fell 0.8% in Shanghai. Its Hong Kong-listed shares were adjusted ahead of a dividend payment next month.

Moutai briefly became China’s most valuable stock in intraday trading on June 19. The distiller, which is also the mainland’s priciest stock at 1,439 yuan apiece, has seen its shares soar about 1,350% the past decade.

©2020 Bloomberg L.P.

With assistance from Bloomberg