Minmetals Furthers Restructuring, Aims for Whole Listing
Post Date: 10 Mar 2010 Viewed: 614
China's state-owned Minmetals Corp is planning to further integrate its businesses and is studying plans for a listing of the whole group, its president, Zhou Zhongshu, told Shanghai Securities News on Monday.
Minmetals will push forward with restructuring and inject its core assets into its listed-companies in Shanghai and Hong Kong, according to Zhou Zhongshu.
"Subsidiaries on the same industry chain will be merged to boost their competitiveness," Zhou Zhongshu said.
Ferrous and non-ferrous business will remain at Minmetals' core, while financing and real estate would serve as complementary dealings.
Minmetals, the country's largest base metals trader, has eight subsidiary companies listed on the Shanghai and Hong Kong bourses.