Swedish steelmaker Stegra has completed a new share issue as part of its ongoing capital raising process aimed at financing the completion of its green steel plant in Boden, northern Sweden, according to Swedish media reports.
As part of the capital increase, the company issued approximately 850 million new shares, raising the total number of shares by around 23 percent.
Turkish industrial group enters green steel project
Turkey’s major industrial conglomerate Koç Holding and the Koç family have joined the funding round as new investors.
Together, the two investors subscribed to approximately two percent of the newly issued shares, marking the entry of a major Turkish industrial player into the Stegra project.
Koç Holding operates across several industrial sectors, including automotive manufacturing, oil refining and household appliances.
The facility is designed to produce steel using low-carbon technologies and is expected to play an important role in Europe’s transition toward climate-neutral steel production.