.gif?width=220&height=200&mediaprotectionhash=b13da841472e6e7ed500ee35df2a350aaf53d75246118b33ea2095cc7e9a3fc4&ext=.gif)
General Steel Holdings Files Shelf Registration Statement
01/16/2009 - General Steel Holdings files shelf registration statement with the U.S. Securities and Exchange Commission that will permit it to sell up to US$60 million of securities from time to tim
General Steel Holdings, Inc., one of China's non-state-owned producers of steel products and aggregators of domestic steel companies, has filed a shelf registration statement on Form S-3 with the U.S. Securities and Exchange Commission. The shelf registration will permit General Steel to sell up to US$60 million of securities on occasion, to or through underwriters, directly to investors or through agents.
"General Steel was founded with a two-fold strategy in mind: to aggressively merge, create joint-ventures and acquire state-owned enterprises and private steel companies with outstanding potential in China, and to increase profitability of acquired assets with the infusion of applied western management practices, advanced production technologies and capital resources," said Henry Yu, General Steel's Chairman and CEO.
"We have executed on our plan and are proud of the controlling interest we share in four subsidiaries today,” continued Yu. “While we have no immediate plans to raise capital, we are taking the necessary steps to position ourselves to take advantage of healthier market conditions in the future, and to continue delivering on our mission of becoming one of the largest and most profitable non-government-owned steel companies in China."
The shelf registration statement will allow the company to sell securities in one or more offerings. In each instance in which the General Steel issues securities, the company will provide a prospectus supplement containing more specific information about the particular offering.
The company cautions that this information does not constitute an offer to sell securities in any jurisdiction where its offer or sale is not permitted.
The company cautions that this information does not constitute an offer to sell securities in any jurisdiction where its offer or sale is not permitted.
Headquartered in Beijing, General Steel Holdings operates a diverse portfolio of Chinese steel companies. With 4.8 million tonnes of aggregate annual production capacity, its companies serve various industries and produce a variety of steel products including rebar, hot-rolled carbon and silicon sheet, high-speed wire and spiral-weld pipe. The company has steel operations in Shaanxi and Guangdong provinces, Inner Mongolia Autonomous Region and Tianjin municipality.
