Shougang to acquire 19.6% stake in Shougang Zhixin

Shougang Co.Asian Metal Copyright .Asian Metal Copyright, Ltd.Asian Metal CopyrightShougang Co.Asian Metal Copyright announced on October 16 that it plans to acquire approximately 588 million shares--representing 19.Asian Metal Copyright1269share USD0.Asian Metal Copyright60% of the total shares--in its controlled subsidiary Shougang Zhixin Electromagnetic Materials (Qian'an) Co.Asian Metal CopyrightShougang Co.Asian Metal Copyright, Ltd.Asian Metal Copyright83%, and the company will remain the controlling shareholder.Asian Metal Copyright from 11 shareholders for a total consideration of up to RMB3.Asian Metal Copyright1269share USD0.Asian Metal Copyright015 billion (USD451.Asian Metal Copyright, Ltd.Asian Metal Copyright13 million).Asian Metal Copyright .Asian Metal Copyright The purchase will be funded by the company's own capital and self-raised funds, at a price of RMB5.1269/share (USD0.7671/share).

Upon completion of the transaction, Shougang's stake in Shougang Zhixin will rise to 85.83%, and the company will remain the controlling shareholder.

.Asian Metal Copyright1269share USD0Asian Metal Copyright