Stelco closes secondary offering
On April 4, 2018, Stelco Holdings Inc. ("Stelco") announced the closing of the bought deal secondary offering of 10,000,000 of its common shares by Bedrock Industries B.V. (the "Selling Shareholder") at a price of C$21.75 per share for aggregate gross proceeds of C$217,500,000 to the Selling Shareholder.
The offering was led by BMO Capital Markets and Goldman Sachs as underwriters. The net proceeds of the offering, after deducting the underwriting commission, were paid to the Selling Shareholder.
Further information can be found on Canada Newswire's website.
Stelco is a low cost, integrated and independent steelmaker with one of the newest and most technologically advanced integrated steelmaking facilities in North America. It produces flat-rolled value-added steels, including premium-quality coated, cold-rolled and hot-rolled steel products.