June 15 – Beijing Shougang’s (000959) asset restructuring with its parent firm is expected to completed by the end of June, reports caijing.com.cn, citing an unnamed insider. Shares of the steel giant, which have been suspended for almost eight months, will be resumed thereafter.

Anqian Steel Limited will be injected into the firm, the insider added.

Beijing Shougang’s parent firm pledged to finish the asset restructuring plan by June 30, according to a staff member at the company’s securities department.

Anqian Steel was founded in 2002 with a production capacity of 8.5 million tons per year.

It had total assets of 32.09 billion yuan and net assets of 5.6 billion yuan as of December 31 2009.
 

Source:CapitalVue