Bedrock Industries-backed Stelco files to go public in Canada
Canadian steel company Stelco Inc has filed a preliminary prospectus with domestic securities regulatory authorities for an initial public offering of its common shares. The IPO, which has not yet been priced, contemplates a treasury offering. The proceeds will be used for investments in new products and Stelco's production capabilities, pre-payments of certain future benefit obligations, and other priorities. Goldman Sachs & Co LLC and BMO Capital Markets are acting as joint bookrunners. Hamilton, Ontario-based Stelco earlier this year emerged from creditor protection and closed a restructuring deal with U.S. private equity firm Bedrock Industries Group.
27 September 2017•3 mins read
