11
Jul
06:18
Daye to take control of Xingcheng Special Steel
According to a report by China’s Daye Special Steel (Daye), the company aims to purchase 86.5% of Xingcheng Special Steel (Xingcheng) by issuing shares valued at CNY 23.2 billion ($3.45 billion). The stock price is CNY 9.2/share, Kallanish notes.
Taifu Investment Company will control the remaining 13.5% of Xingcheng. The other original holders will no longer have a stake. Because the actual controller of both Daye and Taifu is CITIC Gro…
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Anonymous
Very good overview of the weekly steel market.
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