Chongqing Iron & Steel Delays Circular on A-Share Subscription and Whitewash Waiver

An announcement from Chongqing Iron & Steel Co., Ltd. Class H ( (HK:1053) ) is now available.

Chongqing Iron & Steel Company Limited has announced a delay in sending to shareholders a circular relating to a connected transaction under which a substantial shareholder will subscribe for new A shares, as well as an associated whitewash waiver. The circular, which was originally expected by 9 January 2026 and will contain details of the share issuance, the specific mandate and the whitewash waiver along with notices for an extraordinary general meeting and class meetings, is now expected to be dispatched on or before 27 February 2026, subject to consent from the Securities and Futures Commission’s Executive. The postponement reflects the additional time needed to finalise information, including an independent financial adviser’s letter, potentially pushing back key shareholder decisions on the company’s capital structure and control implications of the A-share subscription.

The most recent analyst rating on (HK:1053) stock is a Hold with a HK$1.00 price target. To see the full list of analyst forecasts on Chongqing Iron & Steel Co., Ltd. Class H stock, see the HK:1053 Stock Forecast page.

More about Chongqing Iron & Steel Co., Ltd. Class H

Chongqing Iron & Steel Company Limited is a mainland Chinese steelmaker engaged in the production and sale of steel and related products, serving industrial and construction markets from its base in Chongqing in the PRC. The company is listed in Hong Kong with both executive and non-executive directors, as well as independent non-executive directors, overseeing its governance and capital market activities.

Average Trading Volume: 11,252,380

Technical Sentiment Signal: Buy

Current Market Cap: HK$14.54B

For a thorough assessment of 1053 stock, go to TipRanks’ Stock Analysis page.