Brazil’s CSN raises $892.3 million with additional mining stock offering

Wednesday, 24 March 2021 20:37:39 (GMT+3)   |   Sao Paulo

Brazilian steelmaker Companhia Siderurgica Nacional (CSN) said this week it raised an additional $892.3 million with a supplementary stock offering at its mining business.

The company said CSN Mineração, its iron ore business, which went public at São Paulo stock exchange B3 ealier this year, already provisioned an additional amount of stock that could be sold in addition to CSN’s first shares offering.

Due to the high demand for CSN Mineração shares, the company issued one supplementary stock offering at BRL 8.50 ($1.53) per share and sold 50.2 million shares. As a result, it raised BRL 4.96 billion ($892.3 million).

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