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Valin Iron & Steel to resume trading on the 8th

Valin Iron & Steel August 5 evening announced that the company organization and all parties related to the transaction intermediaries carefully verified and discussed the issue of the Shenzhen Stock Exchange has been involved in the inquiry letter one by one reply, and "major asset replacement relevant documents and issue shares to buy assets and raise matching funds related transactions plan "and other corresponding supplement and perfect. Upon application, the company shares will resume trading on August 8.
Under the restructuring plan, to be adopted by Valin Iron & Steel replacement of assets, the purchase of assets and issue shares to raise matching funds for a series of transactions, set out the original main steel business-related assets, and financial assets and injection of quality power generation assets, and the purchase of assets to be placed transaction amount totaled 13.718 billion yuan. After the completion of the reorganization, the company will be engaged in trust, securities, insurance and other financial services and energy-saving power generation dual main industry integrated companies.
According to plan, the company intends to all assets and liabilities in addition to saving 100% stake in Xiangtan, and Valin Valin Group's 100% stake in energy conservation, Fortune Securities 33.34% stake in the equivalent replacement part. Among them, the price to be set out initial assets of 6.258 billion yuan, to be placed in the initial price for the assets of 5.131 billion yuan, 1.127 billion yuan to pay the difference in cash supplement to the listed company from the Valin Group, all of the assets and liabilities set out by Valin Group to undertake. The company intends to 3.63 yuan / share issue 2.366 billion shares, the total price of 8.587 billion yuan acquisition of 100% stake in Investment Finance, Fortune Securities 3.77% stake.
In addition, the company intends to non-public offering of shares by way of Hualing Holdings to raise matching funds, raising total funds not more than 8.5 billion yuan, the number of issued no more than 2.342 billion shares, issue price of 3.63 yuan / share. Raising funds to be used to supplement the wealth securities, trust and Hunan auspicious life capital.
After the completion of the reorganization, the company will set out the original main China Prepainted Galvanized Steel Sheet business-related assets, and financial assets and injection of quality power generation assets, either directly or indirectly holds 100% stake in Fortune Securities, 96% stake in Hunan Trust, Lucky Life 29.19% stake in Xiangtan saving 100% stake in Valin saving 100% stake, to become engaged in securities, trust, insurance and other financial services and energy-saving power generation dual main industry integrated companies. After the restructuring is completed, Valin Group and its concerted action is expected to be together hold 82.99% stake in the company, the actual controller is still Hunan SASAC, the transaction does not constitute a backdoor listing.

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Contact: Baosen Steel

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Tel: +86-532-88890950

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Add: No. 61 Haier Road Qingdao China1

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