The operation is to include issuing new shares and the funds would be used to pay back loans and ensure working capital, the company said in a statement to the Bucharest Stock Exchange Friday.
ArcelorMittal Tubular Products Iasi is 96.33% owned by Dutch-registered ArcelorMittal Tubular Products Holding, the tubular products arm of the world’s largest steelmaker ArcelorMittal.
The company is listed on the Bucharest Stock Exchange and has a market value fo RON10.4 million.