The hottest WISCO increased its holdings of Pingme

WISCO increased its holdings of Pingmei Shenma by 600million to break through the upstream of coal

WISCO increased its holdings of Pingmei Shenma to break through the upstream of coal

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Guide: WISCO's action to control the upstream coal resources is further after the non-public offering and fund-raising plan to purchase the upstream iron ore resources. The company announced on the 19th that it will increase the capital of China Pingmei Shenma Group with its own capital of 600million yuan. After the capital increase is completed, WISCO shares will account for 11.92% of the capital contribution of Pingmei Shenma. This

following the non-public offering to purchase upstream iron ore resources, Wuhan Iron and Steel Co., Ltd. further controlled the upstream coal resources. On the 19th, the company announced that it would increase the capital of China Pingmei Shenma Group with its own capital of 600million yuan. After the capital increase, WISCO shares will account for 11.92% of the capital contribution of Pingmei Shenma. Before this capital increase, WISCO shares held 9.79% of the shares of Pingmei Shenma

the announcement shows that the net asset corresponding to each yuan of registered capital determined by China Pingmei Shenma Group is 1.343 yuan, which is used as the pricing basis for this capital increase, that is, WISCO's investment of 600million yuan this time will be equivalent to the registered capital of 446million yuan

it is reported that the capital increase was originally planned to be completed in the first half of this year, but due to the impact of the macroeconomic situation, Pingmei Shenma proposed to postpone the capital increase project and implement it at a different time. After many communications, the two sides agreed to continue to promote the capital increase. In February this year, WISCO announced that the two sides planned to sign the "agreement on capital increase and share expansion of China Pingmei Shenma energy and Chemical Group Co., Ltd." the plan at that time showed that the company accounted for 12.06% of the capital contribution of Pingmei Shenma after the capital increase

WISCO said that in recent years, with the continuous expansion of the production scale of China's steel industry, the domestic supply of refined coal for smelting has become increasingly tight. In order to further strengthen its influence on upstream coal resources and ensure the company's coal resource procurement channels, the company plans to increase capital and shares of Pingmei Shenma

Pingmei Shenma is a large state-owned enterprise group dominated by energy and chemical industry. It is the production base of coking coal and power coal with the most complete variety in China and the largest nylon chemical product production base in Asia. As of December 31, 2011, Pingmei Shenma owned Pingmei shares and Shenma shares, with shareholding ratios of 56.12% and 52.95% respectively. In 2011, Pingmei Shenma ranked 74th among the top 500 Chinese enterprises

Wuhan Iron and Steel Co., Ltd. said that Pingmei Shenma and Wuhan Iron and Steel Co., Ltd. are located in the same central south region, with close distance and good resource quality. Considering their resources and regional advantages, they are more obvious than other large domestic coal mining enterprises. With the implementation of the development strategy of "focusing on coal and related diversification" of pingmeishen's national patented earthquake energy absorption system, it is expected that pingmeishen will maintain strong growth and profitability in the future, and the company will be able to share the benefits of its future growth

in recent years, WISCO has made frequent moves to control upstream resources. Not long ago, Wuhan Iron and Steel Co., Ltd. issued the "non public development bank A-share plan", saying that it wanted to raise additional funds to buy upstream iron ore resources. The plan shows that the company plans to privately issue no more than 4.2 billion a shares to no more than 10 specific objects, including the controlling shareholder Wuhan Iron and Steel Group, at an issue price of no less than 3.51 yuan (net assets per share after deducting the profit distribution in 2011), and the total amount of funds raised is no more than 15 billion yuan, Acquire 100% equity of Ningbo WISCO Mining Co., Ltd., WISCO International Resources Co., Ltd., WISCO Brazil Co., Ltd. and WISCO co Co., Ltd. owned by the controlling shareholder WISCO group