Mingtai Aluminum Calls Off Sale of Sanmenxia Aluminum Stake Following Partner's Restructuring Withdrawal

Stock News09-15

Henan Mingtai Al.Industrial Co.,Ltd. (601677.SH) has announced the termination of its plan to sell a 2.50% equity interest in Sanmenxia Aluminum to Jiaozuo Wanfang.

The decision comes after Jiaozuo Wanfang withdrew its application for the proposed issuance of new shares to acquire assets, citing significant changes in the current market environment compared to the initial stages of the transaction.

As a result of the termination of Jiaozuo Wanfang's restructuring initiative, the corresponding transaction under which Henan Mingtai Al.Industrial Co.,Ltd. would have transferred the 2.50% stake in Sanmenxia Aluminum has also been called off. The company will now proceed to properly manage the follow-up matters arising from the conclusion of this deal.

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