Chicago, Illinois-based Ryerson Holding Corporation, a processor and distributor of various kinds of metals, including stainless and carbon steel and aluminum products, has announced that it has decided not to proceed with the previously announced proposed offering of its common shares due to unfavorable market conditions caused by volatility in the global equity markets.
"Given current market conditions, we believe it is prudent to discontinue the offering at this time," said Stephen E. Makarewicz, the Company's Chief Executive Officer and President. "Our company is well-capitalized and well-positioned to wait until the global equity markets stabilize before deciding whether to proceed with a new offering."