Anyang Iron & Steel subsidiary seeks capital, parent secures debt financing

Anyang Iron & Steel Group announced that its controlled subsidiary, Henan Angang Zhoukou Iron & Steel Co., Ltd., will undertake a capital increase and share expansion through a public solicitation of investors. This aims to increase Zhoukou Company's registered capital by up to 1 billion yuan, with Anyang Iron & Steel opting to forgo its priority subscription rights, though it will retain its controlling shareholder position. The transaction requires shareholder approval.

Additionally, Anyang Iron & Steel Group has received approval from the National Association of Financial Market Institutional Investors for its debt financing instruments. The company can now issue up to 1.2 billion yuan in medium-term notes and 800 million yuan in short-term commercial papers. These instruments have a registration validity period of two years from the approval date and will be co-underwritten by multiple banks.

The capital raised by Zhoukou Company will primarily be used to repay existing bank loans and shareholder borrowings, optimizing its financial structure and enhancing its sustainable operating capacity.