The funds will be used to repay part of the company’s debts, ArcelorMittal Iasi said.
ArcelorMittal Iasi will issue 31.2 million new shares at a face value of RON2.5.
The company is 96.3%-owned by ArcelorMittal Tubular Products Holding, the tubular products arm of the world’s largest steelmaker ArcelorMittal.
ArcelorMittal Tubular Products Roman (TRO.RO), a sister company of AcelorMittal Iasi, Thursday said it will hike its capital by RON292.1 million to RON725 million. (EUR1=RON4.3394)