China's Shougang invests $287 in formation of Beijing Motor

Newswire

SHANGHAI, Aug 21 (Reuters) - Beijing Shougang , the listed unit of China steelmaker Shougang Group, said on Saturday it will invest 1.95 billion yuan ($287 million) to help set up investment firm Beijing Motor Corp. Beijing Shougang will hold a 18.31 percent stake in the newly formed company as well as the entire equity interest of Beijing Automobile Investment, the firm said in a filing to the stock exchange. Beijing Motor will have a registered capital of 5 billion yuan of shares and a ...

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