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Xining Special Steel's subsidiary to increase capital to introduce strategic investors
2019-12-31 16:55:48 【Print】
Xining Special Steel announced on December 27 that Qinghai Xigang New Materials Co., Ltd., a holding subsidiary, plans to introduce strategic investors Guoxin Jianxin Equity Investment Fund (Chengdu) Partnership and BOC Financial Asset Investment Co., Ltd. by way of capital increase and share expansion. Guoxin Jianxin increased its capital by RMB1 billion (USD143 million) to Qinghai Xigang New Materials. After the capital increase, Guoxin Jianxin's shareholding ratio in Qinghai Xigang New Materials is 23.96%. BOC Financial Asset increased its capital by RMB300 million (USD43 million) to Qinghai Xigang New Materials. After the capital increase, BOC Financial Asset holds 7.19% equity in Qinghai Xigang New Materials. After the completion of the transaction, the company is still the controlling shareholder of Qinghai Xigang New Materials.
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