Sinostee Welding machine l terminates share purchase plan in Anhui Tianyuan Tech
Welding machine paper bag making machine surge protective metal to metal ball valve wedding dresses 2011 plastic card Destination Management Companies in China switching power supplies refractories china magazines printing massage in shanghai non woven shopping bag plastic bag making machine Mutagenesis ipod converter Surge protection devices stainless steel pipe fittings Hydroxyethyl Starch air conditioner motor Tablet printing machines
Sinosteel terminates share purchase plan in Anhui Tianyuan TechPublished: 07 May 2009 22:12:39 PST

Top 5 News From ChinaKnowledge.comCITIC-Prudential Life Insurance mulls A-share listing in 2012Hang Seng Index opens 68 points lower on FriPing An Property issues RMB 2 bln in subordinated bonds in AprNumber of visitors to Hong Kong up 1.8% in Q1Huaneng Power International to issue RMB 4-bln in mid-term notesMay 8, 2009 (China Knowledge) — Sinosteel Corp, the second-largest iron ore trader in China, decided to terminate its plan of acquiring shares of Shenzhen-listed Sinosteel Anhui Tianyuan Tech Co Ltd, a Chinese magnetic material dealer, according to a statement of the Shenzhen-listed company.

Sinosteel, the controlling shareholder of Anhui Tianyuan Tech, started buying shares of the listed unit since last September.

Currently, Sinosteel hold 35.06 million shares in Anhui Tianyuan Tech, representing a 41.74% of the latter’s total.

Meanwhile, Sinosteel has applied to China Securities Regulatory Commission (CSRC) for exemption from obligation to the tender offer of Sinosteel Anhui Tianyuan Tech’s shares.

The company did not disclose the reason for its decision of terminating raising holdings in Sinosteel Anhui Tianyuan Tech.

Sinosteel bought 260,000 shares of Sinosteel Anhui Tianyuan Tech on the Shenzhen Stock Exchange in September and August last year.

Last month, Sinosteel acquired all the assets of China Metallurgical Mining Corporation (CMMC) without paying any consideration, and thus hold 1.2 million shares of Anhui Tianyuan indirectly.

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