19
Jan
09:53
Shanxi Coking restructures subsidiaries to avoid horizontal competition
Listed firm Shanxi Coking Coal says it intends to purchase the 51% of Huajin Coking Coal and 49% of Mingzhu Coal held by its parent company, Shanxi Coking Coal Group by issuing shares and paying cash. The move aims to reduce horizontal competition among the group's subsidiaries and improve the securitisation rate of state-owned assets, Kallanish notes.
The total transaction price is CNY 7.04 billion ($1.11 billion), and the total amount of supporting fund…
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Very good overview of the weekly steel market.
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