Date
23 November 2017

Baosteel unit to sell stake in Jiangxi Yongsheng, paper says

Baosteel Resources Co. Ltd, a wholly owned subsidiary of Baoshan Iron & Steel Co. (600019.CN), plans to sell its 10 percent stake in Jiangxi Yongsheng Mining and Metallurgical Co. Ltd. for 53.10 million yuan (US$8.73 million), China Securities Journal reported over the weekend, citing the company. Jiangxi Yongsheng, which has a registered capital of 110 million yuan, recorded a net loss of 28.99 million yuan in the first ten months this year on revenue of 960.46 million yuan, according to the report.

– Contact HKEJ at [email protected]

MY/JP/RC

 

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