BEIJING, June 22 (Xinhua) -- Aluminum Corporation of China or Chalco (601600.SH) announced on late Thursday the decision of merging its wholly-owned subsidiaries including Zunyi Alumina Corp and Zunyi Aluminum Co., Ltd.
The Shanghai-listed company will reorganize its two subsidiaries by using Zunyi Alumina's assessed net assets and liabilities of about 2.311 billion yuan (about 356 million U.S. dollars approximately) to increase the capital of Zunyi Aluminum.
When the merge completes, the registered capital of Zunyi Aluminum will increase from approximately 900.97 million yuan to 3.2 billion yuan, and the listed company’s stakes in this subsidiary will increase from 52.523 percent to around 67.445 percent. (Edited by Li Wenxin, Hu Pingchao, hupingchao@xinhua.org)
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