CSC plans to sell shares of its Malaysian subsidiary

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.