https://www.engineeringnews.co.za

AMSA rights offer undersubscribed

AMSA rights offer undersubscribed

Photo by Duane Daws

18th January 2016

By: Natalie Greve

Creamer Media Contributing Editor Online

  

Font size: - +

After announcing in December that it would undertake a R4.5-billion fully underwritten renounceable rights offer, ArcelorMittal South Africa (AMSA) said on Monday that the offer, which closed on January 15, was undersubscribed, with only 68.1% of the offered shares being taken up.

In respect of the 692.3-million rights offer shares offered to shareholders or their renouncees, a total of 471.6-million new AMSA shares, were applied for.

Excess applications of 48 377 were received, which would be allocated in full as per the applications.

ArcelorMittal Holdings had subscribed for its proportional entitlement of the rights offer of 342.13-million shares, amounting to some R2.2-billion and, pursuant to its underwriting obligation, would subscribe for a further 220.65-million new AMSA shares, amounting to around R1.4-billion of the rights offer.

Dematerialised shareholders that had subscribed for shares in the rights offer would have their accounts debited and updated with entitlements to the rights offer shares.

Accordingly, the company will issue 692.3-million new AMSA shares in terms of the rights offer, resulting in the total issued share capital of the company increasing to nearly 1.14-billion ordinary shares of no par value.

Edited by Chanel de Bruyn
Creamer Media Senior Deputy Editor Online

Comments

Showroom

SABAT
SABAT

From batteries for boats and jet skis, to batteries for cars and quad bikes, SABAT Batteries has positioned itself as the lifestyle battery of...

VISIT SHOWROOM 
Immersive Technologies
Immersive Technologies

Immersive Technologies is the world's largest, proven and tested supplier of simulator training solutions to the global resources industry.

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Magazine round up | 19 April 2024
Magazine round up | 19 April 2024
19th April 2024

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.118 0.18s - 166pq - 2rq
Subscribe Now