China's Hebei Steel units sharply lower on consolidation news
A-shares of three listed companies indirectly controlled by Hebei Iron and Steel Group were sharply lower following news that two will be delisted and consolidated into the third, Tangshan Iron & Steel.
BEIJING (XFN-ASIA) 29th, December- A-shares of three listed companies indirectly controlled by Hebei Iron and Steel Group were sharply lower following news that two will be delisted and consolidated into the third, Tangshan Iron & Steel (SZA 000709), dealers said.
At 9:35 am, Tangshan Iron & Steel (SZA 000709) fell by the 10 pct daily limit to 4.10 yuan, while the units to be delisted, Handan Iron & Steel (SHA 600001) and Chengde Xinxin Vanadium and Titanium (SHA 600357), lost 4.26 pct and 5.45 pct, respectively, to 3.60 and 5.20 yuan.
The three companies resumed trading today after about four months' suspension.
