RHI Magnesita N.V. Indian subsidiary equity issuance (5367V)
05 Abril 2023 - 11:00AM
UK Regulatory
TIDMRHIM
RNS Number : 5367V
RHI Magnesita N.V.
05 April 2023
5 April 2023
RHI Magnesita N.V.
("RHI Magnesita" or "the Group")
Indian subsidiary equity issuance
RHI Magnesita announces the closing of an equity raise via the
placing of new shares in its 60% owned subsidiary, RHI Magnesita
India Limited ("RHIM India").
RHIM India has allocated 15,715,034 new shares (subject to
finalization of basis of allotment) through a Qualified
Institutional Placement ("QIP"), representing 8.4% of the existing
paid-up issued share capital of RHIM India, at a price of 572.70
per share to raise gross proceeds of 9 billion (EUR101
million).
New shares issued via the QIP are expected to be admitted to
trading on the National Stock Exchange of India Limited and the BSE
Limited on or before 13 April 2023. HSBC Securities and Capital
Markets (India) Private Limited acted as sole bookrunner on the
QIP.
The Group also intends to subscribe for new shares via a
Preferential Issue of 2 billion (EUR22 million), subject to the
approval of the Board and shareholders of RHI Magnesita India.
Following the QIP and Preferential Issue, the Group will retain
a shareholding of approximately 56% in RHIM India.
Ian Botha, Chief Financial Officer of RHI Magnesita, said: "We
are pleased to have received strong support from Indian and foreign
institutional investors for this equity raise in our subsidiary,
RHI Magnesita India. The proceeds of the QIP will further broaden
our sources of financing in the region and enable RHI Magnesita
India to continue its development as the leading supplier of
refractory products and services in what is the fastest growing
refractory market globally."
For further enquiries, please contact:
Chris Bucknall, Head of Investor Relations
Tel +43 699 1870 6490
E--mail: chris.bucknall@rhimagnesita.com
About RHI Magnesita
RHI Magnesita is the leading global supplier of high-grade
refractory products, systems and solutions which are critical for
high-temperature processes exceeding 1,200degC in a wide range of
industries, including steel, cement, non-ferrous metals and glass.
With a vertically integrated value chain, from raw materials to
refractory products and full performance-based solutions, RHI
Magnesita serves customers around the world, with around 13,500
employees in 33 main production sites and more than 70 sales
offices. RHI Magnesita intends to leverage its leadership in terms
of revenue, scale, product portfolio and diversified geographic
presence to target strategically those countries and regions
benefitting from more dynamic economic growth prospects.
The Group maintains a premium listing on the Official list of
the London Stock Exchange (symbol: RHIM) and is a constituent of
the FTSE 250 index, with a secondary listing on the prime segment
of the Vienna Stock Exchange (Wiener Börse). For more information
please visit: www.rhimagnesita.com
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END
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April 05, 2023 12:00 ET (16:00 GMT)
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