WISCO Group to transfer some shares in WISCO to Chengtong Group

Hubei Province-based Chinese steel producer Wuhan Iron and Steel Co.Ltd (WISCO) has announced that its controlling shareholder WISCO Group plans to voluntarily transfer 247,297,606 shares in WISCO to China Chengtong Holdings Group Ltd.(Chengtong Group) and to transfer the same number of shares in WISCO to China Reform Holdings Corporation Ltd (China Reform Holdings). The transfers in question still need to be approved by China’s State-owned Assets Supervision and Administration Commission of the State Council (SASAC).

 

Accordingly, after the transfers of shares, WISCO Group will hold 5,325,307,985 shares in WISCO, while Chengtong Group and China Reform Holdings will each hold 247,297,606 shares in WISCO, accounting for respective 52.76 percent, 2.45 percent and 2.45 percent stakes in WISCO.