Shoucheng (HKG:0697) unit Fine Power Group completed its proposed restructuring, a Monday Hong Kong bourse filing said.

The restructuring involved the sale of 606,927,640 shares in Shougang Fushan Resources Group (HKG:0639) to Shougang Holding (Hong Kong) for nearly HK$1.46 billion.

The shares represent roughly 11.92% of the target company's issued share capital.

Shoucheng's shareholding in Shougang Fushan Resources has been reduced to 3.3%.

Shougang Holding (Hong Kong) is a unit of Shougang Group, which is a substantial shareholder of Shoucheng.