09
Jul
10:29
CSRC suspends Shagang’s asset acquisition plan
The China Securities Regulatory Commission (CSRC) has suspended Shagang’s move to acquire Suzhou Qinfeng after Shagang failed to fully disclose the overseas policy risks and core competitiveness of the underlying asset. There is also great uncertainty about its profitability, Kallanish notes.
Shagang initially announced the acquisition plan in September 2016, and its stocks were required to stop trading from 19 September of that year to 15 November 2018.
Su…
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Anonymous
Very good overview of the weekly steel market.
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