Henan Province-based Chinese steelmaker Anyang Iron and Steel Co. (Anyang Steel) has announced that it plans to issue not more than 478.736897 million shares in order to raise not more than RMB 2.5 billion ($0.29 billion) for loan repayment.
The share issue has been approved by China's State-owned Assets Supervision and Administration Commission (SASAC), but will require further approval from a general meeting of shareholders and from China Securities Regulatory Commission (CSRC).