Chongqing-based Chinese steel producer Chongqing Iron & Steel Co. (Chongqing Steel) has announced that it plans to acquire non-listed financial assets with high profitability from Chongqing-based Chongqing Yufu Assets Management Group Co., Ltd (Chongqing Yufu Assets Management Group), while it also plans to sell some of its own steel assets.
Furthermore, Chongqing Steel stated that the suspension of trading of the company’s shares as of June 2, aimed at ensuring fairness of information disclosure and avoiding abnormal fluctuations in its share price, will not exceed a period of one month.