24
May
04:04
Jiuli Metals to expand control of Huate Pipe
Shenzhen-listed Zhejiang Jiuli Hi-Tech Metals Co. has announced its plan to acquire the remaining 29.93% equity of Huzhou Huate Stainless Steel Pipe Company. This is currently owned by an individual shareholder. The transaction will make the company a wholly owned subsidiary, Kallanish notes.
Currently, Jiuli holds 70.07% of Huate Pipe. The transfer amount before tax is approximately CNY 23.86 million ($3.38m), according to the exchange filing. 70% and 30% of the …
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