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Maanshan Iron & Steel Co ( (HK:0323) ) just unveiled an announcement.
Maanshan Iron & Steel Co. announced a capital injection into its wholly-owned subsidiary, Maanshan Iron & Steel Limited Company, as part of a strategic reorganization. This move involves transferring assets, liabilities, and equity interests related to its main iron and steel business, excluding certain suspended operations, valued at RMB56.94 billion in assets and RMB46.27 billion in liabilities. The transaction, effective from July 31, 2024, does not constitute a major asset restructuring or a connected transaction, and is aimed at consolidating the company’s operations within Magang Limited.
More about Maanshan Iron & Steel Co
Maanshan Iron & Steel Co., a joint stock limited company incorporated in China, operates in the iron and steel industry. Its primary activities encompass steel and iron smelting, steel rolling and processing, along with the production and sale of chemical products. The company is involved in a wide range of operations, including heat production, manufacturing of basic chemical raw materials, and the sale of metal materials, focusing on both domestic and international markets.
YTD Price Performance: 25.00%
Average Trading Volume: 5,483
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $3.11B
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