on Swiss Steel Holding AG (isin : CH0005795668)
Swiss Steel Holding AG Reports Outcomes of Rights Offering
Swiss Steel Holding AG disclosed results of its rights offering on April 17, 2024. A total of 1,067,992,920 new shares were subscribed, representing 34.4% of the 3,101,000,000 new shares offered at CHF 0.0925 each. The rights offering saw existing shareholders and certain new investors participate, with the remainder of the shares now available through a public offering in Switzerland and private placements internationally.
The company's main shareholder, BigPoint Holding AG, fully exercised its subscription rights and guaranteed to purchase any new shares not placed in the initial offering through a backstop arrangement. This commitment ensures further support for the undertaking. The closing of the book for this Share Placement is expected by April 18, 2024, with payment required by April 22.
The new shares from this rights offering are set to be listed and begin trading on the SIX Swiss Exchange on April 25, 2024. This process is aimed at enhancing liquidity and potentially inviting further investment into Swiss Steel Holding AG.
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