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Bluescope Steel Limited (ASX:BSL) has unveiled plans to raise $600 million to strengthen its balance sheet and repay debt.
The steel maker has launched a four-for-five accelerated renounceable entitlement offer at an offer price of 40 cents per share, a 34 per cent discount to its last closing price.
The company says its earnings continue to be impacted by a strong Australian dollar, low steel prices, high raw materials costs and softer demand in Australia.
The entitlement offer is geared toward creating a more appropriate capital structure.
Bluescope shares have been placed in a trading halt until this Thursday, November 24, 2011.
In the 2011 financial year Bluescope Steel swung from a profit to a net loss of $1 billion.
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Last
$22.26 |
Change
-0.270(1.20%) |
Mkt cap ! $9.763B | |||
| Open | High | Low | Value | Volume |
| $22.55 | $22.55 | $22.25 | $30.87M | 1.382M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 1003 | $22.23 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $22.26 | 22 | 1 |
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| Last trade - 16.14pm 18/09/2025 (20 minute delay) ? |
| BSL (ASX) Chart |