Guangdong Steel Group listed and Baoshan Iron invests 28.6 billion Yuan accounting for 80% shares

The reorganization of Baoshan Iron, Guangzhou Steel and SISG markets a satisfactory full stop for the affluent steel market in Guangdong. Guangdong Iron and Steel which is the largest steel enterprises in China and cost 28.688 billion Yuan sets up a formal listing on 28th.

It is reported that the registered capital of Guangdong Iron and Steel Group is 35.86 billion Yuan, Baoshan Iron and Steel Group is 28.688 billion Yuan in cash holding 80% shares; SAC of Guangdong Province and Guangzhou invest by the net assets of 7.172 billion Yuan from SISG group and Guangzhou Iron & Steel Group State separately, combining 20 percent stake.

Securities analyst of CITIC Zhou Xizeng thinks, holding the shares of Baoshan Iron has a significant meaning to Guangdong Iron and Steel Group. The base area of Baoshan Iron is the market in East China, whose competition is competitive, while the South China is more potential, particularly Guangdong with high steel consumption accounting for one eighth of the country.

http://www.ciimc.com

Permanent Legal Advisor:Beijing Huicheng Law Firm　　Director Lawyer:Fan Shiwen       Vice Director Lawyer:Zheng Guochen

Add: 6/F,United International Building,No.19 Dongsanhuannan Rd.Beijing,100021 China

Website Management:Network Department of CIIMC      Email:info@wedd.org  

Tel：+86 10－87665186 　Fax：+86 10－87665880/87665881