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Baoshan iron and steel industry restructuring in Guangdong dark endogenous variable by sgbvdf asga
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Baoshan iron and steel industry restructuring in Guangdong dark endogenous variable by SGBVDF ASGA
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| Article Posted: 08/02/2010 |
| Article Views: 111 |
| Articles Written: 2044 - MORE ARTICLES FROM THIS AUTHOR |
| Word Count: 685 |
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Baoshan iron and steel industry restructuring in Guangdong dark endogenous variable |
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Business,Business News,Business Opportunities
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The fate of iron and steel enterprises in China have never been as complicated and confusing today. A year ago, the steel industry mergers and acquisitions forced march in Guangdong Steel Baosteel Promoting the integration of resources, in order to mergers and acquisitions and Shaoguan Iron and Steel Guangzhou Iron and Steel , Which will be fully integrated into the two steel enterprises in the territory of Baosteel. Shao
With the rapid development of steel a year, assets have been expanding, Shao Bao Steel merger will change the intent or form in Guangdong Shaoguan Iron & Steel and Baosteel are not the same industry competition; while Guangzhou Iron and Steel Green moved to Nansha Now it seems still no timetable.
SISG 2.5 billion financing their development schemes
Given that there are multiple questions overcapacity of steel, Baosteel steel project in Zhanjiang seems difficult.
Zhanjiang steel project as the carrier of the Guangdong Iron and Steel Group Co., Ltd. in June 28, 2008 officially launched. Guangdong Iron & Steel Group Co., Ltd. registered capital of 35.86 billion yuan, of which: Baosteel Group invested 28.688 billion yuan in cash, 80% stake; Guangdong Province SASAC of Guangzhou to Shaoguan Iron & Steel Group, SAC, Guangzhou Iron and Steel Group owned net assets invested 7.172 billion yuan, total stake of 20%.
Year later. Guangdong Steel Association believes that the recent batch of over Zhanjiang project, or have considerable difficulty.
Guangdong Iron and Steel Group was established as rush, Shaoguan Steel and Guangzhou Iron and Steel of 7.172 billion yuan of net assets of only book, not through a third party intermediary evaluation and audit.
Date, re-issues do not have any recent progress, the rapid development of Shaogang year, assets have been expanding, adding Shaoguan Iron and Steel Baosteel restructuring variables.
Reporter learned from the Shaoguan Iron & Steel Group, to March 31, 2009, SGIS stock company was 17.497 billion yuan assets, short-term loan balance of 3.773 billion yuan, long-term loan balance of 4.968 billion yuan, asset-liability ratio (combined diameter) reached 68.36%.
To reduce the high rates of assets and liabilities, to enhance industry competitiveness and accelerate the strategic development plan joint-stock companies, SGIS to Health & investment management companies and securities investment funds and other institutional investors, non-public offering of a total of not more than 570 million Shares. 2.5 billion to raise cash to supplement the company's liquidity.
Issue is completed, Shaoguan Iron & Steel Group holds shares of the Company increased from 36.27% to 27.04% reduction, health investment holding constant the proportion of shares was 15.26%, but still Shaoguan Iron & Steel Group, the largest shareholder.
According to the December 31, 2008 balance sheet terms, the completion of this offering Shaoguan Steel and repay bank loans, its parent company debt ratio declined from 67.47 percent to 54.23 percent, the company's consolidated balance sheet caliber rate dropped from 66.99% to 53.86%, increased ability to resist risks.
Released, Shaoguan Steel's net assets increased from pre-IPO net assets of 5.7 billion company, was released to the net assets of 8.2 billion.
The first half of this year, SGIS achieved good results, the first half of 2009, 5.76 billion revenue.
SGIS insiders also told reporters, Shaoguan Iron & Steel had not assessed the assets including the company's allocation of 4 square kilometers of land. Logically, this part of the assets should belong to the Guangdong provincial government. On SGIS speaking, this is a huge asset.
Industry an inconvenience to be named, disclosed that with the growth of Shaoguan Iron & Steel, Baosteel original idea??? Steel merger into the latter under the command of Shaoguan Steel's intentions and there may be in the hot springs will be replaced by the two restructuring integration. I am China Toys Suppliers writer, reports some information about porcelain picture frame , tang pottery.
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