BEIJING Yanjing Brewery Co, China's third-biggest beer maker, has cut the minimum price in a planned share sale by 15 percent, citing stock market conditions.

The company plans to sell as many as 110 million shares at no less than 17.88 yuan (US$2.58) each in a private offer, it said in a statement to the Shenzhen stock exchange yesterday. Yanjing's shares have dropped 16 percent since it announced the stock sale.