Maanshan Iron & Steel Co (HK:0323) has released an update.
Maanshan Iron & Steel Co.’s controlling shareholder, Magang Group, has revealed plans to boost its stake in the company with an investment of RMB 150-300 million, aiming to support its sustainable and stable growth. The share purchase, to be conducted through centralized bidding on the Shanghai Stock Exchange, underscores Magang Group’s confidence in the company’s long-term prospects. This strategic move, to be completed within six months, will not alter the company’s control structure, and the group commits to not reducing its stake within the implementation period.
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