Aluminum Corp. of China Ltd. (Chalco) (02600.HK, 601600.CN) is putting up a 60 percent stake in its fully owned subsidiary Chalco Nanhai Alloy Co. Ltd for sale on the Shanghai United Assets and Equity Exchange for 119.58 million yuan (US$19.648 million), the China Securities Journal reported Sunday. After the stake sale, Chalco will have 40 percent of the equity interest in Nanhai Alloy, which has 184 million yuan in registered capital. Nanhai Alloy recorded a net loss of 26.38 million yuan on revenue of 94.15 million yuan in 2012. For the 11 months to November this year, it booked a net loss of 14.19 million yuan on revenue of 139.29 million yuan, the report said.
– Contact HKEJ at [email protected]