EVRAZ North America Files for IPO
10/01/2014 - EVRAZ North America, a subsidiary of EVRAZ plc, has filed a registration statement with the Securities and Exchange Commission (SEC) relating to the proposed initial public offering (IPO) of ordinary shares in the company.
The number of shares to be offered and the price range for the offering have not yet been determined.
The 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.
Following 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.
The 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.
Following 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.
