Shougang shares: to acquire part of the shares of Jingtang Co., Ltd.

SMM News: Shougang shares plan to buy 11.5% of Jingtang Company held by Beijing Investment Holdings and 7.67% of Jingtang Company held by Jingguorui. The estimated transaction price of 19.18% of Jingtang's shares is about 5.574 billion yuan. At the same time, the company intends to raise matching funds. This transaction is for a listed company to acquire a minority stake in Jingtang Company, a holding subsidiary. Upon completion, the listed company will directly and indirectly hold 100% of Jingtang Company. The main business scope of listed companies will not change, and the main business will be further consolidated and strengthened.

The independent director of Shougang Company believes that Jingtang Company benefits part of the equipment and plant structure of the second steelmaking plant of Shougang Group located in Beijing Park, as well as part of the equipment and spare parts of the original medium plate plant, which are used in the second phase of the one-step construction of the company. it is reasonable and necessary to achieve the purpose of saving resources and reducing construction costs.