02
Jun
14:16
Stelco completes share offering
Canadian steelmaker Stelco has closed its secondary share offering, Kallanish reports.
The offering, which was originally finalised on 28 May, sold 6.67 million shares at CAD 33 ($27.35)/share for gross proceeds of about CAD 220 million.
BMO Capital Markets led the offering, all proceeds of which went to selling shareholder Bedrock Industries rather than the company.
Prior to the offering, Bedrock Industries held a 38.5% stake in the company.
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Very good overview of the weekly steel market.
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