Ouyeel to allocate 28%of its equity

Trading platform fully owned by parent offers stock to managers and partners

Online steel transaction platform Ouyeel Co Ltd - the business-to-business platform currently wholly owned by the country's biggest steel-maker China Baowu Steel Group - said it will raise 1 billion yuan ($147 million) by opening the subscriptions of its 28 percent equity to partners and employees..

A ceremony was held to mark the event on Wednesday at Baowu Group's new headquarters in Shanghai.