13
Jun
03:57
HBIS to raise capital in Laoting subsidiary
China-listed HBIS Company Limited has approved a plan to subscribe to new registered capital of CNY 3.46 billion ($483 million) in HBIS Laoting using CNY 4.8 billion in cash, Kallanish learns from exchange filings.
The part of the investment exceeding the capital increase will be credited to Laoting's capital reserve.
As a result, the capital increase will boost HBIS’s control over Laoting from 58.57% to 69.1%, while Hebei Iron and Steel Industry Trans…
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Very good overview of the weekly steel market.
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