FilingReader Intelligence

Angang Steel's largest shareholder secures loan for stock increase

April 25, 2025 at 05:09 AM UTCBy FilingReader AI

Angang Steel (SZSE:000898) announced that its controlling shareholder, Anshan Iron and Steel Group, has received a loan commitment from Bank of China's Liaoning branch for stock increase purposes. The loan will be up to CNY 180 million, with a term of one year, intended to be used for increasing holdings of Angang Steel's A shares. This move supports Anshan Iron and Steel's earlier announced plan in April 2025, to increase its stake in Angang Steel by between CNY 100 million and CNY 200 million. The loan is in line with regulatory policies supporting stock increases and the company said the rest of the capital will come from their own funds. The company also cautioned investors about potential risks that could prevent the plan being executed.

This report was generated by FilingReader's AI system from regulatory filings and company disclosures. To request a correction, contact editorial@filingreader.com

SZSE:000898Shenzhen Stock Exchange
Steel

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