19
Jul
03:18
CSRC approves Yicheng New Energy/Kaifeng Carbon merger
China Securities Regulatory Commission (CSRC) has approved the plan for Yicheng New Energy to merge with Kaifeng Carbon. Yicheng New Energy plans to issue stocks valued at CNY 5.77 billion ($838.81 million) for the merger, Kallanish notes.
The target asset value of CNY 5.8 billion is far more than Yicheng’s market value of CNY 3.4 billion. Yicheng recorded two years of net attributable loss in 2017 and 2018 at CNY 1 billion and CNY 295 billion re…
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Anonymous
Very good overview of the weekly steel market.
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