Economic Observer news reported that Guangzhou Iron Steel Co Ltd
released a new regrouping plan on December 31 2010 about which no news has
been heard with 4 months passing by.
Mr Wubin deputy general manager of Guangri Stock Co Ltd disclosed
that the company had completed reverse merger preparation and that the
regrouping plan would get approved by CSRC and MOFCOM once it was passed
during Guangzhou Steel shareholders meeting.
He also indicated that it would take about half a year before
Guangri Stock completes its back door listing.
Guangzhou Steel Group is an oversized enterprise group established
by Baoshan Iron Steel Co Ltd, SASAC of Guangdong Province and
Guangzhou
city on June 28 2008 with the registered capital of CNY 35.86 billion 80%
of which was cash contribution from Baosteel and another 20% was joint
stock by SASAC of Guangdong Province and
Guangzhou
city.
Source:
GZ Daily News
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