Baosteel WISCO merger help to resolve excess capacity in the steel industry jodie foster

Baosteel WISCO merger: to resolve overcapacity in the steel industry hot column capital flows thousands thousand shares rating stocks the latest rating diagnosis simulated trading client Sina App: Live on-line blogger to guide the purchase of new shares: the stock market is the most simple way to pick up the money from WeChat, lotus public finance author Liu Baoxing original Title: 1 shares of Wuhan shares for 0.56 shares of Baosteel, Wuhan Iron and Steel Group treasure will become the world’s second largest steel giant joint reorganization by Baosteel Group and Wuhan Iron and Steel Group and two steel giant steel giant will be born. September 22nd, the state owned assets supervision and Administration Commission issued a notice, agreed Baosteel Group Co., Ltd. and Wuhan iron and steel (Group) company to implement joint restructuring. Baosteel Group was renamed Chinese Wu Bao Steel Group Co. Ltd., the parent company reorganized as a whole; Wuhan Iron and steel group included free, become Bao Wu Steel Group subsidiary company. On the same night, the two major steel group’s listed companies Baosteel (600019) and Wuhan Iron and Steel shares (600005), while disclosing the merger plan. Baosteel intends to Wuhan Steel shares issued 5 billion 652 million shares to all shareholders of the convertible, convertible merger of Wuhan Steel shares, Baosteel merged party and the surviving party, for the Wuhan Steel shares the merged party and non party existence. Among them, Baosteel determine the conversion price of 4.6 yuan shares, Wuhan Steel shares determine the conversion price of 2.58 yuan shares, the shares of Wuhan Iron and steel Baosteel and the exchange ratio of 1:0.56. In addition, Wuhan Steel shares all the assets, liabilities, existing business, personnel, contracts, qualification and all other rights and obligations by Wuhan Co. undertake and succession, self closing date, Wuhan Co. 100% stake by Baosteel control. After the merger is completed, the total number of shares of listed companies after the merger of 22 billion 119 million shares, of which Baosteel Group Holdings of 52.1%, Wuhan Iron and Steel Group Holdings of $13.48%. After the completion of the restructuring of Baosteel Group and Wuhan Iron and Steel Group, Wuhan Iron and Steel shares, Baoshan Iron and Steel shares are controlled by the group under the control of the group, the group will be held after the merger of listed companies. According to estimates, after the merger of listed companies as of June 30th this year, the total assets reached 362 billion 85 million yuan, total liabilities 208 billion 930 million yuan, asset liability ratio is 57.7%; and the listed company after the merger is expected in the first half of this year can be achieved operating income of 106 billion 750 million yuan, net profit attributable to shareholders of the parent company was 3 billion 330 million yuan. Thus, after the merger of listed companies will increase in strength, either from the assets or revenues, will become the country’s steel industry undisputed "big mac". On the scale of the rankings, after the merger of listed companies will be listed in the world’s iron and steel enterprises in the production of crude steel ranked third, the world’s total production capacity of the car plate ranked third, the world’s first silicon steel production capacity ranked first. In addition, at the group level, the production scale will exceed Bao Wu group Hebei iron and steel, after the European steel giant ArcelorMittal ranked second in the world. It is worth adding that the joint reorganization of the two iron and Steel Group is on the supply side reform相关的主题文章: