iSteelAsia.com teams up in bid to get new business

iSteelAsia.com has formed strategic alliances to try and attract independent buyers and sellers to its online steel exchange.

iSteelAsia.com iSteel, an online steel exchange, has signed memorandum of understandings with five strategic partners in an effort to try and attract business from someone other than major shareholder Van Shung Chong, a steel trading company. The 'deals' were announced earlier this week at a press conference complete with T-shirt clad cheerleaders and Olympian music.

The fanfare with which the announcement was made was not reflected in investor sentiment and iSteel's shares remain thinly traded at below HK$0.40. iSteel floated on Hong Kong's Growth Enterprise Market in April, raising a net HK$82 million via the sale of 100 million new shares at HK$1.08 each in a deal arranged...

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