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SGIS Songshan to transfer 50% equity of Baosteel Special Steel Shaoguan Company to Japanese steel enterprise
2019-11-19 14:52:03 【Print】
Shaoguan Iron & Steel Songshan (SGIS Songshan) announced on November 18 that the company released an announcement on October 11 that the company planned to list and transfer 50% equity of Baosteel Special Steel Shaoguan Company, a wholly-owned subsidiary; the listing period started from October 17, 2019 and ended on November 13, 2019. During the soliciting period, the company received one transferee, JFE Steel Corporation. After review, JFE Steel Corporation meets the requirements of transfer and becomes the only transferee; the transaction price is the listing floor price of RMB689.14 million (USD98.09 million). SGIS Songshan and JFE Steel Corporation will complete the transfer in accordance with related transaction rules of Shanghai United Assets and Equity Exchange, including signing assets transferring contracts and completing assets delivery.
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