Ministry of commerce released yesterday, warning, after half a year's survey, Canada border services agency final determinations on steel grid plates with our country lose up to 85% and RMB 13064 / metric tons of "double reverse" anti-dumping, countervailing duties, in addition to the U.S. department of commerce has been established in a steel plate in China last year as high as 200% "double reverse" tariffs, resistance steel grid plate export markets of North America, experts recommend actively respond to and develop new markets.
 
Steel grating is made of steel as raw material processing products, used in engineering construction field, used to make industrial platform, staircase pedal, aisle, piers, etc. , according to data from Canada to China steel grid plate "double inverse" survey involving 78.1 million dollars; After the United States a "double reverse" investigation, China's imports of steel plate by the $90.7 million down to $15.3 million in exports. Resistance steel grid plate export America market in China, the personage inside course of study says, on the one hand, should actively expand friction, on the other hand, should notice to develop new markets, such as India and other countries of the infrastructure and public services, external demand for construction is increased dramatically.

Wisco shares 2.4 billion rights issue for mergers and acquisitions

From late August 2009 through a rights issue, to extend the validity of a rights issue resolution in September 2010 a year, in October 2010 to scale down the rights issue to raise money, the share financing billions of wisco road is very hard, and today, wisco 2.4 billion rights issue finally officially launched.

For every 10 shares with three strands

Wisco shares today's announcement, according to the company the rights to the equity day that register (March 25, 2011) Shanghai base after the closing of the company 7.838 billion shares of total equity, according to the proportion of every 10 with 3 shares to the shareholders, can match many shares 2.351 billion shares, are all outstanding shares. All the rights to take online pricing issue method, a rights issue code "700005", a rights issue referred to as "rights" of wisco, a rights issue price of 3.7 yuan per share, lower than the current stock price of wisco 4.78 yuan/share, is expected to raise no more than 8.7 billion yuan.
Data show that shares the refinancing of wisco is mainly used for acquisition of holding (group) company of wisco ECheng steel co., LTD. 77.6% stake, wisco group powder metallurgy co., LTD. 100% stake and metallurgical slag utilization related operational assets and liabilities, as well as the scientific class physical assets. Among them, the EGang main products for high speed wire rod, rod, rebar, cold-rolled strip steel, welded pipe, cold rolled sheet and galvanized coil, and other products. EGang successively built after the 2005 2005 mm cold rolled sheet production line with 4300 mm lenient plate production line, with the current wisco stake in cold rolling production line and 2800 mm thick plate line complementary.

A rights issue difficult to do

As early as in 1 and a half years ago, ten billion yuan of wisco shares refinancing plan has been released. In August 2009, wisco shares through the company's 2009 annual rights issue plan, proposed according to the proportion of every 10 shares not more than three allotment, total number of placements is not more than 2.351 billion shares. Fundraising plan does not exceed 12 billion yuan, into three big projects. Due to various reasons, however, a rights issue has not been substantial progress, in September 2010, in desperation, wisco shares held again temporary general meeting of shareholders, to extend the validity of a rights issue resolution for a year.

On October 15, 2010, wuhan shares the way the board of directors will planned rights issue to raise funds to 10.7 billion yuan. In addition, the company's rights declaration materials, according to the national development and reform commission, the audit Suggestions, deliberated and approved by the board of directors decided, to acquire new temple is located in the city of hubei wuhan iron and steel group industrial park of pellet production facilities as a rights issue to raise money. After a series of changes, and finally in February 15, wisco co announced that a rights issue plan approved by the SFC.

Changjiang securities believes that the rights issue to raise funds to the wuhan iron and steel group to buy some main business related assets project, steel production capacity will be further expanded, from the point of EGang current production situation, the monthly output in more than 300000 tons, and in 2010 EGang company produced 3.7076 million tons of steel, steel production capacity of more than 4 million tons.