Hualing Iron and steel adjustment and increase scheme Foreign shareholders give up subscription

NetEase Finance January 25 News hualing Iron and steel evening release announced that the company's board of directors to consider and passed the "company 2008 Non-public offerings of the implementation of the plan," and the relevant content to make adjustments.　　Hua Ling Steel said that after the company and the former two major shareholders of Hunan Hualing Group and ArcelorMittal, a consensus, this non-public offering will be a unilateral purchase of shares by the Hualing Group, ArcelorMittal to the previous proposed cash subscription to abandon the company to participate in the private issue.　　The announcement showed that the price of this non-public offering was 5.57 yuan/share, negotiated by Hualing Steel and the hualing group and ArcelorMittal, and January 25 the company closed at only 3.72 yuan, well below the reserve level for the increase.　　According to the shares subscription Agreement signed in 2008 and the number of issues negotiated with Hualing Group and ArcelorMittal, the company will issue 278 million shares to the hualing group in private.　　Hualing Group with its Hunan hualing Xiangtan Iron and Steel Co., Ltd. 5.48% of the stake and Hunan Hualing Lianyuan Steel Co., Ltd. 5.01% of the equity value of 1.12 billion yuan, as well as RMB 428.46 million yuan in cash, the total capital of 1.548 billion yuan to subscribe to the company's non-public offering of all shares. As of January 25, hualing Iron and Steel reported 3.72 Yuan, Rose 1.09%.