05
Feb
02:13
Baowu buys its own shares to boost confidence
China’s Baosteel says that its main shareholder Baowu Group has increased its indirect holdings by 0.32% of total capital through its wholly-owned subsidiary Huabao Investment Company on 4 February, Kallanish notes. This move is to stabilise market sentiment, the steelmaker says.
The transaction was concluded through centralised bidding with internal funds. Baowu also plans to accumulate further shareholding increases within 2% of total capital dur…
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Anonymous
Very good overview of the weekly steel market.
Anonymous