Release time:2015-11-30 丨Reading times:867
April 28th, Baosteel Group concerned about the reporter to clarify, Baosteel or
will go to Hong Kong listed 600 yuan to raise funds for the project in
Zhanjiang, saying that there is a mistake. During the period from April 25 to
28, the news occupy prominent positions in the media; however, signs are
displayed, media reports are not groundless.
April 26th, a number of media reports, Baosteel Group Chairman Xu Lejiang said that Baosteel consider overseas listing or financing for the Zhanjiang project.
In this regard, 28, Baosteel Group's public relations department, a staff member explain said in his article on Baosteel overseas listing for the Zhanjiang project financing of news, the media are reproduced in the April 25, Peng Bo News Agency published "Baosteel may overseas initial public offering, for $86 billion of Zhanjiang project financing". According to the source, Bloomberg News reported that the English version of the article did not make the real meaning of a mistake, it may be in the process of reproduction, the translator to grasp or understand the problem of English, causing a certain degree of error.
Baosteel staff said, in fact, the overseas listing of the partners are also in the process of looking for. Baosteel did not mention the Zhanjiang project to go overseas listing." According to his introduction, Baosteel overseas listing plan, is the former chairman of the board has been determined.
The source told reporters, in fact, some people have overlooked the first half of the article - "Baosteel may issue shares overseas". Bloomberg said throughout is a possibility, and not in the release of the latest information.
28, Hongkong Economic Daily said Baosteel Group Chairman Xu Lejiang said, has been meeting with the New York stock exchange to discuss the listing requirements.
This argument, reporters on the Baosteel Group has been confirmed. April 24, the network reproduced the Baosteel daily article said Chairman Xu Lejiang in Baoshan Iron and steel building met with New York, NYSE Euronext group chief executive officer Deng Ken Nideaoer, and said "Mr Duncan's trip to the promotion and Baosteel and other Chinese enterprises mutual understanding, for Chinese enterprises to open overseas financing channels".
28, the staff of the company responsible for public relations, said Baosteel Group, said the company's overseas listing of the progress of the situation is exactly the same as the announcement. Reporter access to Baosteel (stock market) notice when to see, as of January 12, 2007, Baosteel has not yet started overseas listing ready to work, nor a substantial starting program."
The source also said that the Zhanjiang project financing with Baosteel overseas listing is not in a problem".
But the industry expressed a different view. China Merchants Securities (stock it) Zhang Shibao believes that the overseas listing of Baosteel Group may be financing for its Zhanjiang project. State securities Zhou Tao expressed recognition. Above two per capita in the internal work of Baosteel group.
Zhou Tao analysis, Baosteel Zhanjiang project requires 600 yuan of funds, the main financing channels are three kinds: Baosteel Group's own funds, loan financing and two market financing. Zhanjiang project is the Baosteel Group all new projects in the largest is most in need of capital of, Baosteel overseas such as listed in rows, the fund raised should be preferentially allocated to the project.
In addition, taking into account the Baosteel Group future mergers and acquisitions still need money, in the rising costs of raw materials and national monetary tightening and other factors, Baosteel Group the current financing channels almost is defined in the secondary market. And in the two market, Baosteel Group is currently only Baosteel, eight one iron and steel (stock it) and other platforms, and in accordance with the provisions of the shares of the company's financing is also used for the operation of the company's own projects, so the Baosteel Group is very much hope to open up a listing path".
"However, the overseas listing of Baosteel last year, rumors." Zhang Shibao said. If the rumors come true, Baosteel Group will be listed on the key will be in the approval of the relevant departments, and in terms of equity structure and corporate governance, the difficulty is not small. At the appointed time, Baosteel will become the domestic steel industry's first overseas listed company after Anshan Iron and steel, Maanshan Iron and steel enterprises only in the H shares have capital operation platform.
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