SOLIDIUM TO PARTICIPATE IN THE SEK 5 BILLION RIGHTS ISSUE OF SSAB
(Thomson Reuters ONE) -
Solidium to subscribe its pro rata entitlement
Solidium Oy will participate in the SEK 5 billion rights issue announced today
by SSAB. Solidium has committed to subscribe for SSAB's new shares for its pro
rata entitlement, corresponding to approximately SEK 900 million (approximately
EUR 98 million).
In conjunction with the issue, both of the two biggest shareholders of SSAB,
Solidium and Industrivärden, have committed to subscribe for new shares pro
rata.
"With the share issue SSAB strengthens its financial position, lowers its
indebtedness to peer group level, and secures refinancing. SSAB can now fully
focus on implementing its growth strategy within special steels", says Kari
Järvinen, Solidium's Managing Director.
Swedish SSAB and Rautaruukki merged in July 2014 and now form a significant
Nordic carbon steel company with production also in North America. The company
has a strong foothold in special steels globally, and it also produces standard
strip, plate and tubular products as well as construction solutions. The net
sales of the company during 2015 amounted to SEK 57 billion (EUR 6.2 billion).
SSAB has around 16,000 employees. The company has an annual steel production
capacity of 8.8 million tonnes. The SSAB corporate headquarters is located in
Stockholm, Sweden. SSAB is listed on the NASDAQ OMX Nordic Exchange in Stockholm
and Helsinki. Solidium has a 17.7% holding of all shares and 10.1% of all votes
in the company prior to the rights issue.
Further information: Kari Järvinen, Managing Director, tel. +358 (0)10 830 8905
Solidium is a limited company wholly owned by the State of Finland. Its mission
is to strengthen and stabilise Finnish ownership in nationally important
companies and increase the value of its holdings in the long term. The basis and
core objective of Solidium's strategy is proper, value-enhancing asset
management of its current holdings. Through its stakes, Solidium is a minority
owner in twelve listed companies: Elisa, Kemira, Metso, Outokumpu, Outotec,
Sampo, SSAB, Stora Enso, Talvivaara Mining Company, Telia Company, Tieto and
Valmet. The market value of Solidium's equity holdings is approximately 6.8
billion euros at the date of this press release. Further
information: www.solidium.fi/en
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: Solidium Oy via GlobeNewswire
[HUG#2005621]
Unternehmensinformation / Kurzprofil:
Datum: 22.04.2016 - 07:43 Uhr
Sprache: Deutsch
News-ID 465786
Anzahl Zeichen: 3166
contact information:
Town:
Helsinki
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 299 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"SOLIDIUM TO PARTICIPATE IN THE SEK 5 BILLION RIGHTS ISSUE OF SSAB"
steht unter der journalistisch-redaktionellen Verantwortung von
Solidium Oy (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
