Chinese state firm takes 13% stake in Australia's Centrex Metals
CTXXF | Quote | Chart | News | PowerRating -- A Chinese state-owned
company has formally taken a 13.04 per cent stake in South
Australian iron ore developer CENTREX METALS LTD (ASX:CXM).
Australian regulators gave WUHAN IRON & STEEL (GROUP) CO
(WISCO) (SSE:600005), China's third largest steel group, the
green light earlier this month to take the stake in Centrex.
* WISCO paid A$9.7 million (US$9.04 million) for a 15 per
cent stake, after about 40.4 million Centrex shares were placed
with the Chinese company at the heavily discounted price of 25
cents per share.
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