August 25 -- Jiugui Liquor (000799) won conditional approval from the China Securities Regulatory Commission for its private placement plan, reports yicai.com, citing a company filing.

According to the plan, first drafted in July 2010, Jiugui Liquor plans to raise as much as 443 million yuan in a private placement. Proceeds are expected to fund marketing, production technology upgrades, liquor storage, and packaging.

Shares of Jiugui Liquor (000799) slipped 1.12 percent to close at 23.92 yuan today.