Nanhua Finance (00619) announced that the company, through its wholly-owned subsidiary, sold a total of 500000 Metallurgical Corporation Of China Ltd(601618) (01618) H shares in the market on March 22, 2022 (accounting for about 0.02% of the total issued Metallurgical Corporation Of China Ltd(601618) H shares and about 0.002% of the total issued Metallurgical Corporation Of China Ltd(601618) shares), with a total consideration of about HK $1.1 million (excluding transaction costs). The average selling price of Metallurgical Corporation Of China Ltd(601618) shares sold is about HK $2.17.
Metallurgical Corporation Of China Ltd(601618) was incorporated as a joint stock limited company under the laws of China on December 1, 2008. Its A-Shares ( Metallurgical Corporation Of China Ltd(601618) . SH) and H shares (01618) are listed on Shanghai Stock Exchange and Stock Exchange respectively Metallurgical Corporation Of China Ltd(601618) and its subsidiaries provide the following services and products: provide engineering contracting and other relevant contracting services for metallurgical and non metallurgical projects; Development and sale of residential and commercial properties and primary land development; Develop and manufacture metallurgical equipment, steel structures and other metal products; And the development, mining and processing of mineral resources and the production of non-ferrous metals and polysilicon.
The board of Directors believes that the fourth sale of Metallurgical Corporation Of China Ltd(601618) will increase the working capital of the group. The Group intends to use the proceeds from the fourth sale of Metallurgical Corporation Of China Ltd(601618) as general working capital.
