04
Nov
08:49
Chonggang approves share issuance for Posco project
Southwest China’s Chongqing Iron and Steel (Chonggang) will issue shares worth up to CNY 4.9 billion ($770 million) in a non-public offering after shareholders approved the move on Monday. The fundraising brings closer the prospect of the company’s planned joint ventures with Korea’s Posco, Kallanish notes.
The company plans to issue almost 1.29 billion shares valued at CNY 3.86 each, with the majority taken by Chongqing Yufu Assets Management,…
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Anonymous
Very good overview of the weekly steel market.
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