Liuzhou Iron and Steel to invest RMB6.07 billion in Guangxi Iron and Steel
2020-11-04 17:58:50 [Print]
Liuzhou Iron and Steel announced on the evening of November 2 that the company planned to increase the capital in Guangxi Iron and Steel through monetary funds with a total of RMB6.07 billion (USD902 million), of which RMB6 billion would be used for increasing the registered capital of Guangxi Iron and Steel, and the rest would be included in the capital reserve. Liuzhou Iron and Steel Group and WISCO Group agreed to give up the priority right to increase the capital of Guangxi Iron and Steel this time.
After the capital increase, the registered capital of Guangxi Iron and Steel would increase from RMB18 billion (USD2.67 billion) to RMB24 billion (USD3.57 billion). Among them, Liuzhou Iron and Steel invested RMB11 billion (USD1.63 billion), accounting for 45.83% of the registered capital of Guangxi Iron and Steel; Liuzhou Iron and Steel Group invested RMB10.94 billion (USD1.63 billion), accounting for 45.58% of the registered capital of Guangxi Iron and Steel; WISCO Group invested RMB2.06 billion (USD306 million), accounting for 8.59% of the registered capital of Guangxi Iron and Steel.
After the capital increase, the registered capital of Guangxi Iron and Steel would increase from RMB18 billion (USD2.67 billion) to RMB24 billion (USD3.57 billion). Among them, Liuzhou Iron and Steel invested RMB11 billion (USD1.63 billion), accounting for 45.83% of the registered capital of Guangxi Iron and Steel; Liuzhou Iron and Steel Group invested RMB10.94 billion (USD1.63 billion), accounting for 45.58% of the registered capital of Guangxi Iron and Steel; WISCO Group invested RMB2.06 billion (USD306 million), accounting for 8.59% of the registered capital of Guangxi Iron and Steel.
