It is reported that Hunan Valin Group plans to increase its stakes in two of its subsidiaries namely, Hunan Valin Xiang Steel and Valin Lian Steel and to use the proceeds from the transactions to increase the funds available to these companies.

Accordingly, Hunan Valin Group plans to acquire a 5.48% stake in Valin Xiang Steel and a 5.01% stake in Valin Lian Steel and to invest the proceeds back into the two subsidiaries

(Sourced from MySteel.net)
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