Ansteel to transfer 360 million shares for free
2018-09-21 11:21:54 [Print]
Ansteel Group sent the notice on its plan to transfer state-owned shares for free on 4 July, 2018 to Ansteel and applied to transfer the 360 million A shares (about 4,98% of the company's total stock issue) that it holds in the name of Anshan Iron and Steel Group Corporation (hereinafter referred to as Anshan Iron & Steel), a wholly-owned subsidiary of the group, to Power Construction Corporation of China (POWERCHINA) for free.
On 18 September, Anshan Iron and Steel received a notice from Ansteel Group that the free transfer had been approved by the State-owned Assets Supervision and Administration Commission of the State Council (SASAC).
After the deal is made, Ansteel Group will hold 3.86 billion A shares in the name of Anshan Iron & Steel, taking 53.33% of the total stock issue, while POWERCHINA will hold 360 million A shares, taking 4.98% of its total stock issue. The controlling shareholders and actual controllers of the company won't be affected by this deal.
On 18 September, Anshan Iron and Steel received a notice from Ansteel Group that the free transfer had been approved by the State-owned Assets Supervision and Administration Commission of the State Council (SASAC).
After the deal is made, Ansteel Group will hold 3.86 billion A shares in the name of Anshan Iron & Steel, taking 53.33% of the total stock issue, while POWERCHINA will hold 360 million A shares, taking 4.98% of its total stock issue. The controlling shareholders and actual controllers of the company won't be affected by this deal.
