Liaoning Province-based Chinese steelmaker Angang Steel Co. (Ansteel) has announced that its controlling shareholder Ansteel Group plans to voluntarily transfer 650 million shares in Ansteel to China’s state-owned China National Petroleum Corporation (CNPC).
Accordingly, after the transfer of the shares, Ansteel Group will hold 4.219 billion shares in Ansteel, while CNPC will hold 650 million shares in the company, equivalent to 58.31 percent and 8.98 percent stakes, respectively.