Baosteel repurchases 1.04 bln shares

HIGH-GRADE NI-CU-PT-PD-ZN-CR-AU-V-TI DISCOVERIES IN THE "RING OF FIRE"

NI 43-101 Update (September 2012): 11.1 Mt @ 1.68% Ni, 0.87% Cu, 0.89 gpt Pt and 3.09 gpt Pd and 0.18 gpt Au (Proven & Probable Reserves) / 8.9 Mt @ 1.10% Ni, 1.14% Cu, 1.16 gpt Pt and 3.49 gpt Pd and 0.30 gpt Au (Inferred Resource)

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Baosteel repurchases 1.04 bln shares

posted on May 23, 2013 12:08AM

Baosteel repurchases 1.04 bln shares

(China Knowledge)
Updated: 2013-05-23 10:34
Counter: 14

Baoshan Iron and Steel, a leading steel producer in China, also known as Baosteel, announced yesterday that it had repurchased 1.04 million shares or a 5.9% stake as of May 21.

The steel maker said in a statement filed with the Shanghai Stock Exchange that it spent RMB 5 billion to buy the shares at a price range of RMB 4.51 to RMB 5.00.

Baosteel said the shares repurchase would be cancelled today.

The company said it has completed its share repurchase plan which was announced in September 2012.

The company said earlier that its net profit jumped 41% YoY to RMB 10.39 billion in 2012. Operating revenue dropped 14% YoY to RMB 191.51 billion last year.

http://www.chinamining.org/Companies/2013-05-23/1369276510d61715.html

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