According to Zhitong Finance App, Bengang Steel (000761.SZ) announced that in order to revitalize existing assets, broaden equity financing channels, and optimize the balance and liability structure, the company plans to issue holding real estate asset-backed securities (inter-agency REITs) on the Shenzhen Stock Exchange. According to the transaction structure requirements for hold-type real estate asset-backed securities, the underlying assets should be held by the project company, and the special asset support plan indirectly holds the underlying assets by holding 100% of the project company's shares. Based on this, the company plans to establish a wholly-owned subsidiary with physical assets such as CCPP power generation assets and transfer the CCPP power generation assets into the project company.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.