Minmetals to Bolster Holdings in Salt Lake Group

China's Minmetals aims to boost its stake in listed units under China Salt Lake Industrial Group beyond 4% of total share capital. This move intends to optimise the shareholding structure, stabilising and enhancing company value.

China's Minmetals is preparing to increase its shareholding in the listed companies associated with the China Salt Lake Industrial Group. The company plans to expand its stake to more than 4% of the total share capital, according to a recent notice released on Wednesday.

The state-owned enterprise expressed that the objective behind increasing its shareholding is to optimise the structure of these listed units. By doing so, Minmetals seeks to stabilise and enhance their market value, showcasing a strategic effort to reinforce its financial influence and yield better returns.

This development marks a significant step by Minmetals, reflecting a calculated move to strengthen its presence and investment efficacy within the industrial sector, potentially leading to increased confidence among stakeholders and market participants.

(With inputs from agencies.)