Do not rule out future possibilities listed overseas

2013 held in yesterday afternoon's first-half results conference, chairman of baosteel He Wenbo in reply to questions from investors, do not rule out the possibility of future to R=3D 45 degree Pipe Fitting Bend overseas listing, it mainly depends on two things, one is A large capital needs, 2 it is to have suitable time window, and the current a-share investors can accept the price. But he also said the company no overseas listings.

Rumors about baosteel overseas listing has been stopped. As early as in 2000, baosteel has activity in the United States the New York stock exchange, after unsuccessful due to factors such as long radius butt weld pipe elbow Labour costs for the nyse. In December 2006, xie qihua, the then chairman of baosteel group, in Japan, said baosteel is considering listed abroad, and may invite Japan's Nippon steel and South Korea's posco, equity participation, in order to realize the cross shareholding. In early 2007, the market has been rife that baosteel group intends to take the way of issuing securities depository (ADR) going public as a whole.

From the side of funds, baosteel has a API oil welded steel pipe large spending repeatedly in recent years, has been big financial pressure. In August last year, baosteel announced to invest 5 billion yuan cash to buy back their own shares. In October, the company acquired at a cost of $4.97 billion the state-owned assets supervision and administration of zhanjiang steel stakes in guangzhou. Later that year, the company has invested 8 billion yuan in CNPC three line of west-east gas project. Recently, the company announced to zhanjiang steel unilaterally cash capital increase of 12 billion yuan. It is reported that since 2014, baosteel zhanjiang iron & steel project will soon enter the peak period of construction, the static total investment of 41.5 billion yuan.