Beijing Shougang plans to fully acquire Shougang Jingtang

Monday, 28 September 2020 15:49:48 (GMT+3)   |   Shanghai
       

Chinese steelmaker Beijing Shougang Co., Ltd. announced that the company plans to purchase 11.5094 percent of equity in Shougang Jingtang company held by Beijing Investment Holding and 7.6729 percent of equity in Shougang Jingtang company held by Beijing Jingguorui via non-public issuance of shares to specified objects. 

The estimated transaction value of 19.1823 percent of equity in Shougang Jingtang mentioned above amounted to RMB 5.574 billion ($0.8 billion). After the transaction this time, the listed company Beijing Shougang Co., Ltd. will hold 100 percent of equity in Shougang Jingtang via direct and indirect holding. Shougang Jingtang has an annual capacity of 8.98 million mt of pig iron per year and 9.7 million mt of steel.


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