Citic Pacific restructures shareholding in Special Steel unit

Citic Pacific Special Steel Group (SZSE:000708) announced today that its indirect controlling shareholder, CITIC Pacific Limited, is set to undergo a restructuring of its shareholding structure. CITIC Pacific will use a portion of its equity in subsidiary Wanfu Investment Limited to acquire 100% equity stakes in Shangkang International Co., Ltd., and Changyue Investment Co., Ltd., from Wanfu Investment. Wanfu Investment will then repurchase and cancel the aforementioned equity.