REG - RHI Magnesita N.V. - Indian subsidiary equity issuance

RHI Magnesita NVAnnouncement

05/04/2023 17:00

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RNS Number : 5367V  RHI Magnesita N.V.  05 April 2023

5 April 2023

 

RHI Magnesita N.V.

("RHI Magnesita" or "the Group")

 

Indian subsidiary equity issuance

 

RHI Magnesita announces the closing of an equity raise via the placing of new
shares in its 60% owned subsidiary, RHI Magnesita India Limited ("RHIM
India").

RHIM India has allocated 15,715,034 new shares (subject to finalization of
basis of allotment) through a Qualified Institutional Placement ("QIP"),
representing 8.4% of the existing paid-up issued share capital of RHIM India,
at a price of ₹572.70 per share to raise gross proceeds of ₹9 billion
(€101 million).

New shares issued via the QIP are expected to be admitted to trading on the
National Stock Exchange of India Limited and the BSE Limited on or before 13
April 2023. HSBC Securities and Capital Markets (India) Private Limited acted
as sole bookrunner on the QIP.

The Group also intends to subscribe for new shares via a Preferential Issue of
₹2 billion (€22 million), subject to the approval of the Board and
shareholders of RHI Magnesita India.

Following the QIP and Preferential Issue, the Group will retain a shareholding
of approximately 56% in RHIM India.

 

Ian Botha, Chief Financial Officer of RHI Magnesita, said: "We are pleased to
have received strong support from Indian and foreign institutional investors
for this equity raise in our subsidiary, RHI Magnesita India. The proceeds of
the QIP will further broaden our sources of financing in the region and enable
RHI Magnesita India to continue its development as the leading supplier of
refractory products and services in what is the fastest growing refractory
market globally."

 

For further enquiries, please contact:

Chris Bucknall, Head of Investor Relations

Tel +43 699 1870 6490

E‐mail: chris.bucknall@rhimagnesita.com
(mailto:chris.bucknall@rhimagnesita.com)

 

 

About RHI Magnesita

RHI Magnesita is the leading global supplier of high-grade refractory
products, systems and solutions which are critical for high-temperature
processes exceeding 1,200°C in a wide range of industries, including steel,
cement, non-ferrous metals and glass. With a vertically integrated value
chain, from raw materials to refractory products and full performance-based
solutions, RHI Magnesita serves customers around the world, with around 13,500
employees in 33 main production sites and more than 70 sales offices. RHI
Magnesita intends to leverage its leadership in terms of revenue, scale,
product portfolio and diversified geographic presence to target strategically
those countries and regions benefitting from more dynamic economic growth
prospects.

The Group maintains a premium listing on the Official list of the London Stock
Exchange (symbol: RHIM) and is a constituent of the FTSE 250 index, with a
secondary listing on the prime segment of the Vienna Stock Exchange (Wiener
Börse). For more information please visit: www.rhimagnesita.com
(http://www.rhimagnesita.com)

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (596/2014/EU).

 

 

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