Anyang to fund meltshop expansion through share sale

摘要

China's Anyang Iron & Steel plans to use the finance raised through its recent share sale to install a new 100-tonne basic oxygen converter.The Chinese steelmaker issued its shares on the Shanghai Stock Exchange on August 1. The company has yet to announce how much it expects to raise from the initial public offering, but has already opened tenders for the new equipment, an Anyang official told MB. According to local press reports, the new converter is expected to replace the mill's existing three 15-tonne converters.