Ganglian E-Commerce Increases Investment in Subsidiary

Ganglian E-Commerce, 8/19/11

Shanghai-based steel industry B2B e-commerce platform operator Ganglian E-Commerce (MySteel.com) (300226.SZ) has announced plans to increase its investment in the company's e-commerce subsidiary Shanghai Gangyin E-Commerce Co. Ltd. Through Ganglian E-Commerce's RMB 85 mln investment and investment from six other companies, total registered capital attributable to Gangyin E-Commerce will increase from RMB 5 mln to RMB 150 mln. Ganglian E-Commerce now holds a 58.4% stake in the subsidiary enterprise.

Editor's Note: Shanghai Gangyin E-Commerce Co. Ltd. provides a platform for steel trading, helping customers buy and sell steel and providing them with financing, warehousing and logistics services.

Keywords: Ganglian E-Commerce 300226.SZ B2B e-commerce Internet MySteel Gangyin E-Commerce

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