Maanshan Iron & Steel Co (HK:0323) has released an update.
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Maanshan Iron & Steel Co. has announced that its controlling shareholder, Magang Group, has begun to increase its stake in the company, with a recent purchase of A shares representing 0.07% of the total capital for RMB 9.51 million. The shareholder’s total ownership now stands at 47.373% and plans to invest an additional RMB 150 to 300 million within six months. This move reflects Magang Group’s confidence in the company’s future and the perceived investment value.
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