Jinan steel Suction and Laiwu steel new scheme two shares trading

NetEase Finance December 14 News December 13, Shan Steel Group and its subordinate Jigang Group, Laiwu Steel Group, as well as these two groups of listed companies Jinan iron and Steel, Laiwu Steel shares held a board meeting respectively, to consider through the Shan Steel Group company Iron and steel main business assets reorganization, namely Jinan iron and steel absorption merged Laiwu steel shares and directional additional scheme.　　Jinan Steel announced the new plan today.　　The new plan still for Jinan Steel absorption merged Laiwu Steel shares, and the exchange rate is unchanged, but the assets injected into the asset restructuring has changed a lot, the reorganization of assets no longer include Rizhao Steel, Jinan group no longer to the listed companies injected 3 billion yuan in cash, and Laiwu Steel group injection of assets is no longer the Yinshan steel and so on. The reorganization plan is: Jinan iron and steel absorption combined Laiwu steel shares, the share of the exchange rate is still 1:2.43, that is, 1 shares of Laiwu Steel can change 2.43 shares of Jinan steel.　　After the merger, Jinan Iron and steel for the survival of the main body, with 3.95 yuan per share of the price to the Jigang group and the Laiwu Steel group to add 962.1917 million shares, the purchase of its own evaluation value of about 3.8 billion yuan related assets. Compared with the original plan, no longer restructured Rizhao steel, and the Yinshan steel and LAIWU steel machinery manufacturing companies to adjust the scope of reorganization; Jigang no longer inject 3 billion yuan of cash into the listed companies. In this regard, Shan Gang explained that Shan Gang and Rizhao Iron and steel group only signed asset restructuring and cooperation framework agreement, the current acquisition matters are still in the commercial negotiations, whether the acquisition of success there are certain uncertainties. and Yinshan Steel still need to improve the relevant formalities. At the same time, Laiwu Steel Group is making a major adjustment to its machinery manufacturing company's business positioning, is not yet completed. Considering the influence of the above factors, in order to guarantee the quality of the assets injected into the listed companies and reduce the defects of injecting assets, the scope of the reorganization assets has been adjusted significantly.　　In addition, the original intention to inject 3 billion yuan of cash is mainly to improve the capital structure of Jinan steel, reduce its asset-liability ratio, and under the new restructuring plan, Jinan Steel's asset load rate will decline from 75% to 67%, the capital structure has been significantly improved. The reorganization of the plan still provides the right to have a dissenting shareholder's cash options, from Shandong Province State-owned Assets Investment Holding Co., Ltd. as an independent third party, respectively, Jinan Steel, Laiwu iron and steel shareholders to provide the right to purchase claims, cash options. Among them, Jinan iron and steel per share of cash options priced for 3.95 yuan per share, Laiwu Steel shares priced at 8.9 yuan per share.　　After the completion of the work, the surviving company of Jinan Steel renamed to Shandong Iron and Steel Co. According to the assessment, the reorganization of the proposed assets in 2009 attributable to the owner of the parent company Total net profit of 214.5 million yuan, the total value of the proposed assets is 3.8 billion yuan, the corresponding 2009-year P/E ratio of 17.72 times times, lower than the same industry a shares comparable to the average price/earnings ratio. Assuming the completion of this major reorganization in early 2010, the surviving company of Jinan Iron and steel for the combined earnings of 2010, 2011 attributable to the owner of the parent company net profit of 570 million yuan, 550 million yuan respectively; more than Jinan steel, Laiwu Steel shares 2009 annual earnings will be thickened 172.75%, 35.43% respectively. Jinan iron and steel and Laiwu steel shares opened trading today, open trading was opened, but continued strong pattern, turnover quickly enlarged.