04
May
06:13
Chonggang ends restructuring, reports heavy first quarter loss
Chongqing Iron & Steel (Chonggang) has called a halt to its restructuring after failing to reach an agreement with related parties since June last year. Chonggang was attempting to restructure the listed company by divesting major steel assets and replacing these with financial businesses, Kallanish notes.
On 3 May Chonggang announced to the Shanghai Stock Exchange that it would terminate the restructuring process as it was too complicated, but the exchange …
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Anonymous
Very good overview of the weekly steel market.
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