Taiyuan Iron & Steel (Tisco), China's second-largest stainless steel producer, suspended the trading of its stock on the Shenzhen Stock Exchange on Friday August 21 following an announcement on Thursday evening that there will be a change in its controlling shareholder.
Market participants expect the Baowu Steel Group, the country's largest producer of carbon steel, to replace Shanxi province's State-owned Assets Supervision & Administration Commission as the new controlling shareholder of Tisco by merging the latter.Tisco, which also...