10
Sep
01:00
Chonggang to raise CNY 5bn for Posco autosheet JV
Southwest China’s Chongqing Iron and Steel (Chonggang) is planning a non-public issuance of shares to raise funds for its investment in autosheet capacity, it told the Shanghai Stock Exchange this week. This includes its joint ventures with Korea’s Posco with the move also a boost to Posco’s goal of building a functioning Finex plant in China, Kallanish notes.
Chonggang will issue 1.29 billion shares and raise up to CNY 4.96 billi…
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Anonymous
Very good overview of the weekly steel market.
Anonymous