trending Market Intelligence /marketintelligence/en/news-insights/trending/lcsf-4o3cmjzzqofsutlpw2 content esgSubNav
In This List

Evraz selling 15% stake in Delong for US$91.7M

Blog

Insight Weekly: US stock performance; banks' M&A risk; COVID-19 vaccine makers' earnings

Blog

Insight Weekly: LNG exports surge; investors unfazed by inflation; neobanks drive VC funding

Blog

Essential Metals Mining Insights November 2021

Blog

[Infographic]: 2021 World Exploration Trends


Evraz selling 15% stake in Delong for US$91.7M

Russia's Evraz PLC agreed to sell its 15.04% stake in Chinese steel producer Delong Holdings Ltd. for US$91.7 million to Best Decade Holdings Ltd.

The company, which plans to use the proceeds for general corporate purposes, said June 1 that the average price per share amounts to S$7.42, which represents a 65% premium over the current market price.

Evraz posted a year-over-year drop in crude steel production for the first quarter to 3.4 million tonnes from 3.7 million tonnes due to severe weather and limited supplies of iron ore.

As of May 31, US$1 was equivalent to S$1.34.