Business
EVRAZ North America files registration statement
EVRAZ North America files registration statement.
About this update from Evraz Plc
[{"type":"text","content":"\n \nRNS Number : 7908S Evraz Plc 26 September 2014 \n \n\nEVRAZ North America Files Registration Statement for Proposed Initial Public Offering\n26 September 2014 - EVRAZ North America (the \"Company\"), a subsidiary of EVRAZ plc (\"EVRAZ\"), announced today that it has filed a registration statement with the Securities and Exchange Commission (the \"SEC\") relating to the proposed initial public offering (\"IPO\") of ordinary shares in the Company.\nThe number of shares to be offered and the price range for the offering have not yet been determined. \nThe Company intends to use the net proceeds of the proposed offering to complete the acquisition of certain North American assets from EVRAZ, to repay existing intercompany debt to EVRAZ, and for general corporate purposes. \nFollowing the IPO, EVRAZ will continue to be the majority owner of the Company. The proposed IPO does not represent a change to the Company's operating model or business strategy.\nCitigroup and Goldman, Sachs & Co. are acting as the joint book runners for the proposed offering. \nThe offering will be made only by means of a prospectus, which, when available, may be obtained by contacting: (1) Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, (800) 831-9146; or (2) Goldman, Sachs & Co., Attn.: Prospectus Department, 200 West Street, New York, NY 10282, (866) 471-2526, [email protected]. \nA registration statement relating to the proposed offering has been filed with the SEC but has not yet become effective. The shares to be registered may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sales of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. \n# # #\nEVRAZ North America (the \"Company\") is a wholly owned subsidiary of EVRAZ plc, one of the largest vertically integrated steel and mining businesses in the world. The Company is a leading North American producer of engineered steel products for rail, energy and industrial end markets. The Company has ...