DUISBURG (dpa-AFX) - German industrial conglomerate thyssenKrupp AG (TYEKF.PK) late Monday said it has raised around 1.38 billion euros from share sale to institutional investors. The share sale is said to bolster its balance sheet ahead of a planned merger with India-based Tata Steel to become Europe's second-largest steelmaker.
thyssenkrupp said it has successfully placed new shares corresponding to 10 percent of the capital stock at 24.30 euros per share.
The company completed the capital increase announced earlier in the day by 144.88 million euros, in an accelerated bookbuilding process. The newly issued 56.59 million no par shares in thyssenkrupp were placed with German and international institutional investors at a price of 24.30 euros per share.
The placement results in a gross proceed of 1.375 million euros.
Copyright RTT News/dpa-AFX