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Daye Special Steel holds meeting for restructuring and plans to become a listed company

2019-07-30 17:29:01  【Print】
On July 28, Daye Special Steel issued a statement that reviewed by the SFC merger and acquisition of listed company audit committee in its 34th work meeting of 2019, the restructuring of Daye Special Steel was approved with conditions.Asian Metal Copyright According to the newest restructuring draft, Daye Special Steel plans to issue shares to purchase 86.Asian Metal Copyright After restructuring, CITIC Pacific Special Steel Holdings, as the special steel part under CITIC Group, will become a listed company.

According to the newest restructuring draft, Daye Special Steel plans to issue shares to purchase 86.50% equity of Jiangyin Xingcheng Special Steel held by Pacific Investment and other companies; the transaction price is RMB23.Asian Metal Copyright179 billion USD3.Asian Metal Copyright179 billion (USD3.Asian Metal Copyright179 billion USD3.Asian Metal Copyright37 billion) and the issued price is RMB10 (USD1.Asian Metal Copyright Both Daye Special Steel and Jiangyin Xingcheng Special Steel are under CITIC Group.Asian Metal Copyright45) per share.Asian Metal Copyright After the restructuring, the listed company's annual special steel production capacity will reach 13 million tons, and its asset size and profits will boom.Asian Metal Copyright After the distribution of annual profits in 2018, the issued price will be adjusted to RMB9.Asian Metal Copyright2 USD1.Asian Metal Copyright2 (USD1.Asian Metal Copyright50% equity of Jiangyin Xingcheng Special Steel held by Pacific Investment and other companies; the transaction price is RMB23.Asian Metal Copyright34) per share.Asian Metal Copyright34 per share.Asian Metal Copyright Both Daye Special Steel and Jiangyin Xingcheng Special Steel are under CITIC Group.Asian Metal Copyright50% equity of Jiangyin Xingcheng Special Steel held by Pacific Investment and other companies; the transaction price is RMB23.Asian Metal Copyright After restructuring, CITIC Pacific Special Steel Holdings, as the special steel part under CITIC Group, will become a listed company.

According to information, Jiangyin Xingcheng Special Steel has more than 3,000 regular types of steel products with over 5,000 specifications. It has five products groups (alloy steel rod, special plate, special seamless steel tube, alloy steel wire and round continuous casting alloy billet) and deep-processing products (heat treatment material, bright steel, automobile components and steel ball), having apparent advantage in types and specifications.Asian Metal Copyright Both Daye Special Steel and Jiangyin Xingcheng Special Steel are under CITIC Group.Asian Metal Copyright Besides, the company has four manufacturing bases (Jiangyin, Qingdao, Jingjiang and Huangshi) and two raw material bases (Tongling and Yangzhou).Asian Metal Copyright After the restructuring, the listed company's annual special steel production capacity will reach 13 million tons, and its asset size and profits will boom.Asian Metal Copyright It has a strategic layout in coastal and riverside industrial chain and an entire special steel industrial chain from raw material to products, expanded processing of products and terminal service.

After the restructuring, the listed company's annual special steel production capacity will reach 13 million tons, and its asset size and profits will boom.
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