XinRen gets permission to raise aluminium smelter stake
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XinRen Aluminium Holdings, a China based company has decided to raise its stake in Xinjiang based aluminium smelter by 30% some time back. This move was given a positive nod by the shareholders on Friday, 6th June.
This was decided after XinRen exercised the option to icrease their stake in Xinjiang smelting plant for 3.15 bn yuan(S$633 mn) in the month of April. The company initialyy bought 21% stake in China Leading International two years ago. China Leading International was the owner of the plant in Xinjiang and after XinRen had bought a part of the stake, the company was granted an option for second call. This acquisition will bring the total share to 51%.
