Shanghai-listed Chinese steel producer Wuhan Iron and Steel Co Ltd has announced that its leading shareholder Wuhan Iron and Steel (Group) Corp. (WISCO) has increased its stake in the company.
Accordingly, as of November 28 this year, WISCO acquired 202 million shares accounting for two percent of the total shares of Wuhan Iron and Steel Co. via trading at Shanghai Stock Exchange. After the transaction, WISCO now holds 67.32 percent of shares in the company.
WISCO started to increase its shares in Wuhan Iron and Steel Co. on November 29, 2012, with all shares purchased at lower than RMB 4 ($0.66) per share.