CSC plans to sell shares of its Malaysian subsidiary
Taiwanese steel producer
China Steel Corporation (
CSC) and
China Development Industrial Bank are reportedly planning to jointly sell 45-50% share of Ornasteel Holdings Berhad in
Malaysia in November.
CSC currently holds 90% of Ornasteel shares and the remaining 10% is owned by
China Development Industrial Bank.
It is stated that Ornasteel will the be first overseas subsidiary of
CSC to be listed.