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

RHI Magnesita NVAnnouncement

29/03/2023 17:00

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RNS Number : 6706U  RHI Magnesita N.V.  29 March 2023

29 March 2023

 

RHI Magnesita N.V.

("RHI Magnesita" or "the Group")

 

Indian subsidiary equity issuance

 

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

RHIM India is listed on the National Stock Exchange of India and the Bombay
Stock Exchange. RHIM India obtained authority from its shareholders on 13
March 2023 to raise funds from the issuance of new equity through a Qualified
Institutional Placement ("QIP") and the equity raise will utilise a proportion
of this authority.

The proceeds of the QIP are intended to be used for the repayment of loans
used to finance the acquisitions of the refractory businesses of Dalmia Bharat
Refractories Limited and Hi-Tech Chemicals Limited, and for general corporate
purposes.

The size and pricing of any equity raise carried out under this authority is
subject to market conditions. The Group intends to retain its majority
shareholding in RHIM India.

 

For further enquiries, please contact:

Chris Bucknall, Head of Investor Relations

Tel +43 699 1870 6490

E‐mail: 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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