Beijing Lier High-Temperature Materials (SHE:002392) plans to add its holdings in a subsidiary that produces refractory materials and metallurgical auxiliary materials.
The Chinese refractory materials maker plans to acquire 20% of Inner Mongolia Baotou Lier High Temperature Materials from Inner Mongolia Baotou Steel Union (SHA:600010), according to a Shenzhen Stock Exchange disclosure on Tuesday.
The specific price will subject to the property transaction contract after Baotou Lier was delisted from the Inner Mongolia Property Rights Exchange Center.
After the completion of the transaction, Beijing Lier's stake in Baotou Lier will rise to 70%, the disclosure said.
Beijing Lier's shares jumped less than 3%, while Inner Mongolia Baotou's shares slipped less than 2% in recent trade.
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