Maanshan Iron & Steel Transfers 35% Stake in Subsidiary to Baoshan Iron & Steel for 5.1 Billion Yuan

MT Newswires Live

04-21

Maanshan Iron & Steel (SHA:600808, HKG:0323) agreed to transfer a 35.42% stake in Maanshan Iron & Steel Ltd. Co. to Baoshan Iron & Steel (SHA:600019) for 5.14 billion yuan, according to a filing with the Hong Kong Stock Exchange on April 17.

The parties also signed a deal under which Baoshan Iron & Steel will inject 3.86 billion yuan of capital into Maanshan Iron & Steel Ltd. Co. Of the additional capital, 266 million yuan will be used as additional registered capital of the target, while about 3.60 billion yuan will be allocated as capital reserve of Maanshan Iron & Steel Ltd. Co.

Following the deals, Maanshan Iron & Steel and Baoshan Iron & Steel will hold respective stakes of 51% and 49% in Maanshan Iron & Steel Ltd. Co.

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Co. to Baoshan Iron &amp; Steel (SHA:600019) for 5.14 billion yuan, according to a filing with the Hong Kong Stock Exchange on April 17.</p><p>The parties also signed a deal under which Baoshan Iron &amp; Steel will inject 3.86 billion yuan of capital into Maanshan Iron &amp; Steel Ltd. Co. Of the additional capital, 266 million yuan will be used as additional registered capital of the target, while about 3.60 billion yuan will be allocated as capital reserve of Maanshan Iron &amp; Steel Ltd. Co.</p><p>Following the deals, Maanshan Iron &amp; Steel and Baoshan Iron &amp; Steel will hold respective stakes of 51% and 49% in Maanshan Iron &amp; Steel Ltd. Co.</p></body></html>\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1328615791.USD","symbol_name":"FULLERTON LUX FUNDS - ALL CHINA EQUITIES \"I\" (USD) ACC","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2529489208","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2529489208","pubTimestamp":1745191562,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. Better news, better service, better price.","home_visible":1,"id":"1092851196","head_image":"https://community-static.tradeup.com/news/3002d84abbd5ace3c99397c7f95b8d4e"},"summary":"Maanshan Iron & Steel  agreed to transfer a 35.42% stake in Maanshan Iron & Steel Ltd. 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