06
Jun
05:40
Chonggang to sell steel business for assets swap
Chongqing Iron & Steel (Chonggang) is planning an asset swap with another locally state-owned company, Chongqing Yufu Assets Management Group, it tells the Shanghai Stock Exchange. The move will see it give up some steel assets in exchange for more profitable financial assets, Kallanish notes.
Chonggang expects to sell some steel assets to Yufu and buy some of Yufu’s high quality un-listed financial assets. On 31 May it added about CNY 1.285 …
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Anonymous
Very good overview of the weekly steel market.
Anonymous