Shougang Concord International Enterprise has said its indirect wholly owned subsidiary Jeckman Holdings has not completed its subscription for shares of Shougang Concord Technology. It has yet to secure the exchange's approval for the new shares to trade, and the Securities and Futures Commission's waiver from any obligation to make a mandatory offer. Jeckman agreed to subscribe for the new shares, after it placed the existing shares of Shougang Technology with independent investors last month. Shougang Technology has applied to the exchange for an extension of time for Jeckman to subscribe for the shares.
