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steelmakers

March 22, 2011

Brazilian steelmaker Gerdau, controlled by descendants of the founding family, announced on 21 March that it plans to sell shares worth around $2.5 billion to fund its investment plans for the "next few years".

Brazilian steelmaker Gerdau, controlled by descendants of the founding family, announced on 21 March that it plans to sell shares worth around $2.5 billion to fund its investment plans for the "next few years".

The biggest steel company in Latin America said that it will raise money for investment through a primary and a secondary offering of both voting and non-voting shares. The sale, scheduled to happen on 23 March, will see around 70 million voting new shares and over 200 million non-voting shares put up for sale.

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