Chongqing Iron & Steel Company Limited announced new details regarding its proposed issuance of A shares to a substantial shareholder and the corresponding Whitewash Waiver application. The company sought and obtained regulatory consent to extend the date for dispatch of its Circular from 9 January 2026 to on or before 27 February 2026.

According to the latest information, the Circular will include the group’s financial details and an independent financial adviser’s opinion. Shareholders will be asked to vote on the issuance of A shares to the specific target subscriber, which requires approval at the Extraordinary General Meeting (EGM). The Whitewash Waiver, if granted by the relevant authority and approved by at least 75% of independent shareholders’ votes, would permit the substantial shareholder to avoid triggering a mandatory general offer that could otherwise be required.

The issuance and the potential general offer are subject to various conditions, including shareholder approvals and completion of the share subscription. It remains possible that the Whitewash Waiver may not be granted, and the proposed transactions may or may not proceed. The company advises all shareholders and potential investors to exercise caution when dealing in its shares and to seek professional advice if necessary.