Masteel to transfer 55% stock equity of Maanshan Steel Scrap
2018-08-16 18:00:05 [Print]
Maanshan Iron & Steel Co
In addition, Masteel's wholly-owned subsidiary Anhui Magang Chemical Energy Science & Technology Co., Ltd . ("Magang Chemical") plans to add investment . Masteel intends to added capital of 1,406,140 . 00 yuan and give up the pre-emption right, and Magang will subscribe all of the newly-added capital . The ratio of investments from Magang and Masteel will be 55% and 45% respectively if the capital increase finishes.
Furthermore, Masteel's holding subsidiary Anhui Magang Jiahua New Building Materials Co., Ltd . ("Jiahua") plans to add capital and Masteel gives up the pre-emption right and Magang and Jiahua's shareholder Lida Investment Co . , Ltd . ("Lida") will subscribe all of the newly-added capital . The ratio of investments from Magang, Masteel, and Lida will be 40%, 30%, and 30% respectively if the capital increase ends.
. , Ltd . ("Masteel") recently announced that it planned to transfer the 55% stock equity of Maanshan Steel Scrap Co . , Ltd . ("Steel Scrap") to its controlling shareholder Magang (Group) Holding Co . , Ltd . ("Magang") . If the transaction proceeds, the ratio of investments from Magang and Masteel will be 55% and 45% respectively.
In addition, Masteel's wholly-owned subsidiary Anhui Magang Chemical Energy Science & Technology Co., Ltd . ("Magang Chemical") plans to add investment . Masteel intends to added capital of 1,406,140 . 00 yuan and give up the pre-emption right, and Magang will subscribe all of the newly-added capital . The ratio of investments from Magang and Masteel will be 55% and 45% respectively if the capital increase finishes.
Furthermore, Masteel's holding subsidiary Anhui Magang Jiahua New Building Materials Co., Ltd . ("Jiahua") plans to add capital and Masteel gives up the pre-emption right and Magang and Jiahua's shareholder Lida Investment Co . , Ltd . ("Lida") will subscribe all of the newly-added capital . The ratio of investments from Magang, Masteel, and Lida will be 40%, 30%, and 30% respectively if the capital increase ends.