Wuhan Iron & Steel Leaves Capital Market

Wuhan Iron & Steel Leaves Capital Market

Wuhan Iron & Steel Leaves Capital Market

Wuhan Iron and Steel Co Ltd, one of the major listed State-owned steel companies in China, formally withdrew from the capital market on Tuesday.
At present, Wuhan Iron and Steel and Baosteel have entered the stock swap stage, the key process in the restructuring of the two steel giants which started last year. One share of Wuhan Iron and Steel can be swapped for 0.56 share of Baosteel.
The two stocks were suspended on Jan 24, with Baosteel's share price at 6.8 yuan ($1) and Wuhan Iron and Steel at 3.71 yuan.
The total number of shares of the new Baosteel will increase to 22.1 billion, of which Baowu Iron and Steel Group holds 52.14 percent, while Wuhan Iron and Steel Group holds 13.49 percent, and the remaining 34.37 percent is owned by external shareholders.
Wang Guoqing, director of the Lange Steel Information Center, said that the withdrawal of Wuhan Iron and Steel is good for investors because the quality of Baosteel's shares is much higher. Baosteel has a stronger capacity to operate the assets of Wuhan Iron and Steel.
"The withdrawal comes within expectations since the plan for the reorganization is clear. Going by the current trend, the reorganization of SOEs will mainly take the form of cross-shareholdings in the future," said Wang.
Zhou Minliang, a researcher at the Institute of Industrial Economics at the Chinese Academy of Social Sciences, said State-owned enterprises must take the initiative to improve quality and achieve efficiency, optimizing the allocation of resources.
In 2016, the State-owned Assets Supervision and Administration Commission promoted the reorganization and integration of 10 State-owned enterprises, including Baosteel and Wuhan Iron and Steel Company. The number of enterprises supervised by SASAC has also been reduced to 102.
Related News
  • Bradwell Bmarks Chinese industry's transition

    Bradwell Bmarks Chinese industry's transition

    November 20, 2017Two decommissioned reactors are close to the premises where Bradwell nuclear power plant will be built.From 'big' to 'strong', the project sees China's technology embraced by world Development at the ...view
  • Technical information

    Technical information

    November 23, 2017The space frame elements are analyzed according to the Matrix- Displacement Method. In the course of this analysis, the loads are exercised to the nodes only. The bars are calculated to respond to onl...view


    February 9, 2018A soft white or gray mineral consisting of hydrated calcium sulfate. It occurs chiefly in sedimentary deposits and is used to make plaster of Paris and fertilizers, and in the building industry. Gypsu...view
  • Retractable Space Frame Roof System

    Retractable Space Frame Roof System

    November 23, 2017A retractable roof is a roof system designed to roll back the roof on tracks so that the interior of the facility is open to the outdoors. Retractable roofs are sometimes referred to as operable roofs...view
  • Advantages of Space Frames

    Advantages of Space Frames

    November 20, 2017One of the most important advantages of a space structure is its lightweight. This is mainly due to the fact that material is distributed spatially in such a way that the load transfer mechanism is pr...view
  • China Suspends More Coal Development in 29 Provinces

    China Suspends More Coal Development in 29 Provinces

    November 20, 2017China plans to suspend approvals for new coal-fired power plants in 29 provinces, Reuters reported.The move comes as the country's National Energy Administration put as many as 25 provinces on "red al...view
  • TEL:+86 516 8595 0258
  • FAX:+86 516 8595 0278
  • Email:marketing01@cnxzlf.com
  • ADDRESS:222, Block B, Diamond International, Guozhuang Road, Xuzhou, Jiangsu, China


Total quantity:897, Total process time:0.27294493 ms


Total quantity:22

Use Memory: 11.9MB

Time-consuming: 0.47616 ms