Shougang Group to gratuitously transfer 15% shares to China Baowu

On 8 November, Shougang Group announced that the holding stockholder of the company intended to gratuitously transfer 793,408,440 shares of it held by the company to China Baowu Steel Group free of charge.Asian Metal CopyrightOn 8 November, Shougang Group announced that the holding stockholder of the company intended to gratuitously transfer 793,408,440 shares of it held by the company to China Baowu Steel Group free of charge.Asian Metal Copyright After the completion of the gratuitous transfer of shares, the total share capital of the company remains unchanged.Asian Metal Copyright After the completion of the gratuitous transfer of shares, the total share capital of the company remains unchanged.Asian Metal Copyright Shougang Group will hold 3,405,352,431 shares, accounting for 64.Asian Metal Copyright .Asian Metal Copyright38% of the total share capital; China Baowu will hold 793,408,440 shares, accounting for 15% of the total share capital.Asian Metal Copyright Shougang Group will hold 3,405,352,431 shares, accounting for 64.Asian Metal Copyright This transfer of shares will not result in the change of the controlling shareholder and actual controller of Shougang.

.Asian Metal CopyrightOn 8 November, Shougang Group announced that the holding stockholder of the company intended to gratuitously transfer 793,408,440 shares of it held by the company to China Baowu Steel Group free of chargeAsian Metal Copyright