Tianshan Aluminum completes backdoor listing
2020-07-13 17:20:04 [Print]
On late July 10, SHIMGE Pump Industry Group Co., Ltd. (SHIMGE Pump Industry) announced that the company plans to change its name to "Tianshan Aluminum Group Co., Ltd." and the securities abbreviation to "Tianshan Aluminum".
SHIMGE Pump Industry announced a major asset reorganization in March 2019 targeting at Xinjiang Tianshan Aluminum. It was approved by China Securities Regulatory Commission on June 12, 2020. SHIMGE Pump Industry issued a total of 3.38 billion new shares to the actual controller of Tianshan Aluminum and other shareholders, and the actual controller of Tianshan Aluminum became the major shareholder of SHIMGE Pump Industry. The original water pump business of SHIMGE Pump Industry was spun off from the listed company and carried on by the actual controller of the original listed company, Xu Mintian. Tianshan Aluminum incorporated its assets into SHIMGE Pump Industry and became a wholly-owned subsidiary of SHIMGE Pump Industry.
On July 7, 2020, the newly issued shares of SHIMGE Pump Industry were officially listed on the Shenzhen Stock Exchange. As of the press date, the share price of SHIMGE Pump Industry was RMB9.03 (USD1.29) per share, with a market value of RMB35.1 billion (USD5.02 billion). The business of the listed company is transformed into the whole aluminum industry chain integrating bauxite, alumina, power generation, anode carbon, primary aluminum and aluminum deep processing.
SHIMGE Pump Industry announced a major asset reorganization in March 2019 targeting at Xinjiang Tianshan Aluminum. It was approved by China Securities Regulatory Commission on June 12, 2020. SHIMGE Pump Industry issued a total of 3.38 billion new shares to the actual controller of Tianshan Aluminum and other shareholders, and the actual controller of Tianshan Aluminum became the major shareholder of SHIMGE Pump Industry. The original water pump business of SHIMGE Pump Industry was spun off from the listed company and carried on by the actual controller of the original listed company, Xu Mintian. Tianshan Aluminum incorporated its assets into SHIMGE Pump Industry and became a wholly-owned subsidiary of SHIMGE Pump Industry.
On July 7, 2020, the newly issued shares of SHIMGE Pump Industry were officially listed on the Shenzhen Stock Exchange. As of the press date, the share price of SHIMGE Pump Industry was RMB9.03 (USD1.29) per share, with a market value of RMB35.1 billion (USD5.02 billion). The business of the listed company is transformed into the whole aluminum industry chain integrating bauxite, alumina, power generation, anode carbon, primary aluminum and aluminum deep processing.
Alumina 98.5%min EXW China
Unit:RMB/mt
China alumina producers' suspension number statistics by province by month
Unit: pcs
