It is reported that Wuhan Iron and Steel plans to conduct a rights issue of three shares for every 10 shares held at CNY 3.7 a share in order to raise up to CNY 8.7 billion.
As per report, a total of 2.35 billion rights shares will be offered.
Subscription will take place during the March 28 to April 6 periods. During this period, trading in the company shares will be suspended.