Stelco Holdings closes initial public offering
On November 10, 2017, Stelco Holdings Inc. ("Stelco") announced that it completed its initial public offering of 13,529,750 of the common shares at a price of C$17.00 per common share for total gross proceeds of C$230,005,750, which included the sale of 1,764,750 common shares pursuant to the exercise in full by the underwriters of their over-allotment option.
The shares began trading on the Toronto Stock Exchange on November 3, 2017 under the symbol "STLC".
The offering was made through a syndicate of underwriters led by Goldman Sachs Canada Inc. and BMO Capital Markets and includes Credit Suisse Securities (Canada), Inc., J.P. Morgan, Scotiabank, TD Securities Inc., National Bank Financial Inc., and Oppenheimer & Co. Inc.
Further information can be found on Canada Newswire's website.
Stelco is one of Canada's leading integrated steel companies. It conducts its operations out of two facilities located in Hamilton and in Nanticoke Ontario. These operations produce high quality value-added hot rolled, cold rolled, coated sheet steel products used in the construction, automotive and energy industries across Canada and the United States.