Wuhan Iron & Steel leaves capital market
By Yang Ziman | China Daily | Updated: 2017-02-15 07:46
Wuhan Iron and Steel Co Ltd, one of the major listed State-owned steel companies in China, formally withdrew from the capital market on Tuesday.
At present, Wuhan Iron and Steel and Baosteel have entered the stock swap stage, the key process in the restructuring of the two steel giants which started last year. One share of Wuhan Iron and Steel can be swapped for 0.56 share of Baosteel.
The two stocks were suspended on Jan 24, with Baosteel's share price at 6.8 yuan ($1) and Wuhan Iron and Steel at 3.71 yuan.
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