Nanjing Yunhai Special Metals Co., Ltd announced that it expects to receive CNY 1.09999997 billion in funding from Baosteel Metal Co., Ltd.
October 16, 2022
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Nanjing Yunhai Special Metals Co., Ltd. announced a private placement of 62,000,000 A shares to be issued at a price of CNY 17.741935 for proceeds of up to CNY 1,099,999,970 on October 17, 2022. The transaction will include participation from returning investor Baosteel Metal Co., Ltd. After the completion of the transaction, the investor will hold 21.53% stake in the company. The transaction was approved by the board of directors in its10th session of the company’s 6th directorate and the 9th session of the company’s 6th supervisory board.
On December 22, 2022, the State Administration for Market Regulation issued the Decision on No Further Review of the Anti-monopoly Review of Concentration of Operators ( [2022] No. 824), and decided not to carry out further review of company’s equity. Centralization can be implemented from now on.
Baowu Magnesium Technology Co Ltd, formerly Nanjing Yunhai Special Metals Co Ltd, is a China-based company mainly engaged in the production, deep processing and sales of magnesium and aluminum alloy materials. The Company's main products include aluminum alloys, magnesium alloys, magnesium alloy automotive die castings, aluminum extruded micro-air conditioning flat tubes, master alloys, aluminum extruded automotive structural parts and strontium metal. The Company's products are mainly used in automotive lightweighting, consumer electronics, construction and other fields. The Company is also engaged in the development of instrument panel brackets, seat brackets and vehicle electronics for traditional and new energy vehicles, as well as the development of magnesium alloy die castings. The Company mainly conducts its businesses in domestic and overseas markets.
BAOWU MAGNESIUM TECHNOLOGY CO., LTD. 
