04
Nov
10:09
Xinsteel to spin off, list Jiangxi Xinhua Metal
Xinyu Iron & Steel (Xinsteel) plans to spin off its holding subsidiary Jiangxi Xinhua Metal Products Co. and list it on the Shanghai Stock Exchange, Kallanish notes.
If the plan is completed, Xinsteel will still hold 79.67% of Jiangxi Xinhua Metal. Jiangxi Xinhua Metal will also keep its focus on research, production and sales of steel strand for high-strength low-relaxation prestressed concrete.
The plan is preliminary and subject to approval …
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