As stated by Baoshan Iron and Steel (Baosteel), one of the largest Chinese steelmakers, its principal stockholder Baosteel Group has increased its stake in the company by 175,307,826 shares to 13,128,825,267 shares, equal to a 74.97 percent stake, following recent purchases of shares by Baosteel Group carried out in September and December 2011 and on January 16 this year.
Baosteel Group plans to continue to increase its stake in its subsidiary, targeting an aggregate increase not exceeding two percent of the company's total shares.