NISCO) is a publicly traded steel maker based in Nanjing, Jiangsu Province, China.
The parent company of NISCO is Nanjing Nangang Iron and Steel United Co., Ltd. (Chinese: 南京南钢钢铁联合有限公司), a joint venture of Hong Kong listed company Fosun International (the stake was jointly held by Fosun International and its subsidiaries) and Chinese state-owned enterprise Nanjing Iron and Steel Group in a 60–40 ratio.
Instead, the controlling shareholder was replaced by joint ventures of Nanjing Iron and Steel Group in 2003 and again in 2009 under another legal person.
NISCO also had a long business partnership with Hong Kong listed company Prosperity International [zh] for trading iron ore.
In 2011, NISCO acquired 10% shares of a company, All Wealthy Capital, from the chairman of Prosperity International, Wong Ben Koon [zh], for US$50 million.
[17] On 31 December 2015, Fosun International also appointed Nanjing Iron and Steel Group as its proxy for 10% stake of Nangang United, making Nangang United was classified as a joint venture and not consolidated in Fosun International's consolidated financial statements, while Nanjing Iron and Steel Group regained the joint-controlling status on the publicly traded company.