Actual Controller of Nanjing Iron and Steel is Planned to be Changed to CITIC Group Co., Ltd.

Published: Apr 11, 2023 17:36 (GMT+8)

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Xinye Steel intends to increase its capital by 13.58 billion yuan in Nanjing Iron and Steel Group, and will hold 55.25% of the company's shares

Xinye Steel intends to increase its capital by 13.58 billion yuan in Nanjing Iron and Steel Group, and will hold 55.25% of the company's shares and become its controlling shareholder. At the same time, Nanjing Iron and Steel Group decided to purchase 60% stake in Nanjing Steel Union. The company's actual controller will be changed from to CITIC once the trading is completed.

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