TMK has clarified the parameters of the secondary public offering of shares

AK&M 27 September 2023 14:03

TMK announces the updated parameters of the secondary public offering of ordinary shares. This is stated in the company's message.

Applications for participation in the SPO will be accepted until September 28, 2023 inclusive. However, the collection of applications may be completed ahead of schedule by the decision of the selling party.

The company plans to place up to 15 million shares in the SPO. This is 1.5% of the total number of TMK shares. The updated price range of the stock offer is from 215 to 230 rubles per share. The final price of one share will be set no later than September 29 within the specified price range.

An investor who was a member of the SPO, 6 months after the completion date of the share offer, will be able to buy one additional share at the SPO price for each share purchased under the SPO.

TMK Steel Holding plans to acquire the entire additional issue of shares, with the exception of shares that will be purchased by minority shareholders under the pre-emptive right. Thus, the shareholder will transfer to the company the funds raised under the SPO, minus the costs of organizing the offer. The company will use these funds to reduce the debt burden and other general corporate purposes.

TMK is a supplier of steel pipes, pipe solutions and related services for various sectors of the economy. TMK produces threaded pipes, including special pipes and pipeline systems, and other products for the energy, chemical industry, mechanical engineering, construction and other industries.

TMK shares are traded on the Moscow Stock Exchange.

The authorized capital of PJSC TMK consists of 1033135366 ordinary shares with a nominal value of 10 rubles, and its size is 10331353660 rubles.

Share capital structure: TMK Steel Holding Limited - 90.6369%, in free circulation – 9.3631%.