Guangxi Province-based Chinese steelmaker Liuzhou Iron and Steel Co., Ltd has announced that it intends to allow Guangxi Province-based Guangtou Lingang One Industrial Development Fund to partake in a capital increase for its subsidiary Guangxi Iron and Steel (Guangxi Steel).
Guangtou Lingang One Industrial Development Fund plans to increase capital in Guangxi Steel by RMB 674 million ($94 million) via cash subscription at a price of RMB 1.1858 per share ($0.16/share) in Guangxi Steel. With this capital increase, Guangtou Lingang One Industrial Development Fund will acquire a 2.2315 percent stake in Guangxi Steel.
