Inner Mongolian Baotou Steel Union Co. Ltd has issued 3.032 billion A-shares at RMB 2.30 per share to Baotou Steel (Group) Co. Ltd for the purchase of its steel leading assets with a total value of RMB 6.97 bln. This new share issuance was registered with China Securities Registration & Settlement Shanghai branch on 18 Sep 2007.

Following the issuance of shares, Baotou Steel will hold 61.2% of Inner Mongolian Baotou Steel’s total share capital. The shares are projected to be listed on 18 Sep 2010.