MIS midwest corporation limited

Sinosteel moves to delist Midwest18th September 2008, 7:45 WST...

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    18/09/08
    12:48
    Post #: 4282155
    Sinosteel moves to delist Midwest

    18th September 2008, 7:45 WST

    Sinosteel has set the wheels in motion for a delisting of Midwest Corporation from the Australian Securities Exchange, after acquiring a 98.5 per cent stake in the firm earlier this week.

    The Chinese company, which went into a trading halt on Tuesday, will proceed to a full takeover of the iron ore firm as of today, ahead of the firm’s delisting.

    Sinosteel president Tianwen Huang said the company had been very pleased with the success of the offer, which he said would drive further growth in the Midwest region.

    Shares in the company last traded at $6.36.

    PERTH
    ANDREW HOBBS

    MIS Price at posting: $6.25 Sentiment: None Disclosure: Not Held
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