19
Jun
05:43
CITIC transfers Nangang shares between subsidiaries
CITIC Pacific has decided to change the direct controller of Nanjing Iron & Steel Group (Nangang Group) from one subsidiary to another. Hubei Xinyegang will sell its shares to CITIC Special Steel Jiangsu Co., which is also located in Nanjing, Kallanish notes.
The Jiangsu-based subsidiary of CITIC was established this February and has yet to carry out any business. The transfer allows the corporate structure to align better with local government structures, wit…
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Very good overview of the weekly steel market.
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