Rare Price Hike Adds $16 Billion Value to Top China Liquor Maker

(Bloomberg) — Kweichow Moutai Co. jumped the most in about a year after the Chinese liquor giant said it would boost prices of its signature alcoholic drinks for the first time in six years.

Shares surged as much as 9.8% after the state-owned distiller said late Tuesday it would increase factory-gate prices by 20% for a number of its flagship baijiu drinks, the high-alcohol content sorghum-based liquor of choice for banquets among government officials and businessmen in the country.