The follow-on share offering, which has regulatory approval, will end on January 21, the sources told Reuters. They sources declined to be identified because details of the deal were not public yet.Officials at Tata Steel could not immediately be reached for a comment.
Sources told Reuters on Tuesday Tata Steel would launch an up to $800 million share offer by the end of this month, after the company said it would issue 57 million new shares in a public offer but did not give details.The proceeds of the issue are expected to be partially used to reduce the company's debt, which is currently around $10 billion.
Liked the story?
0
0
0
0
0
