Home Business Nippon Steel places 8% of Acerinox up on the market, valued at...

Nippon Steel places 8% of Acerinox up on the market, valued at 231.5 million

Acerinox headquarters.


It’s the second largest shareholder in Acerinox, with a 15.49% stake, solely surpassed by Corporacin Financiera Alba, which owns 18.95%.

Nippon Metal Stainless Metal has put 7.9% of the capital of Acerinox up in the marketplace, a corporation via which it has a 15.5% stake, valued at about 231.5 million euros.

Particularly, UBS is ending up a private placement, through the accelerated placement modality aimed fully at licensed consumers, on behalf of Nippon Metal Stainless Metal Company of a block of as a lot as roughly 21.4 million Acerinox shares, the entity reported. to the Nationwide Securities Market Fee (CNMV).

The securities of the group chaired by Rafael Miranda closed this Thursday on the stock market at a price of 10.82 euros per share, after registering a drop of two.87%.

Nippon Metal has entered proper right into a placement settlement with UBS throughout the bizarre phrases for such a operation, along with a 90-day lock-up (no-sale dedication) – subject to customary exceptions.

The definitive phrases of the situation, along with the sale price of the shares, shall be determined and communicated as quickly as the situation is achieved.

Nippon Metal is the second principal shareholder of Acerinox, with a participation of 15.49%, solely surpassed in capital by Corporacin Financiera Alba, which owns 18.95%.

In August of ultimate 12 months, the Japanese group already took a step within the course of a attainable sale of its stake in Acerinox with its departure from the company’s board of directors and with the reconfiguration of its stake, which went from financial to industrial.

Particularly, Ryo Hattori and Mitsuo Ikeda submitted their resignations in letters addressed to the Chairman of the Board of Administrators of Acerinox, Rafael Miranda Robredo. Hattori had been on the board of the metallic group since 2009 and Ikeda had served since 2019.


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