ArcelorMittal has announced of additional issue for $3 bln

ArcelorMittal has announced of the conditions of subscription for the additional issue of shares for the total amount of $3 bln.

The company’s shareholders have the priority right to purchase the shares at 2.2 euro (with a 35% discount to the listing on the Euronext stock exchange in Amsterdam as of March 10th).

The Mittals state of the readiness to use the right for the purchase of new shares proportionally to their 37.38% stake in the company.

ArcelorMittal and the Mittals have also agreed with underwriters on a 180-day lock-up after the purchase-and-sale of shares.

The subscription for the new shares expires on March 14th 2016 at the completion of trades on NY stock exchange and other markets. The buyers of security papers can use their right until March 29-30th 2016.

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