China’s state-owned Sinosteel Corporation (Sinosteel) has decided to sell a 96.86 percent stake in Jilin Ferroalloy LLC and a 9.74 percent stake in Jilin Ferroalloy Co. Ltd, at a price of RMB 1($0.15) per share, as announced by Chinese equity trading institution China Beijing Equity Exchange Group (CBEX).
In the January-September period of the current year, Jilin Ferroalloy LLC recorded a net loss of RMB 27.9124 million ($4.05 million), while Jilin Ferroalloy Co. Ltd registered a net loss of RMB 184 million ($26.70 million).