Russia's TMK to Sell 44M Additional Shares in VTB Deal

Reuters

MOSCOW, March 22 (Reuters) - TMK, Russia's largest maker of steel pipes for the oil and gas industry, said on Tuesday it would sell 44 million additional shares as part of a financing deal with VTB bank.

TMK agreed a deal with VTB last year to raise around 10 billion roubles ($147.09 million) by selling its shares. The funds will be used to reduce debt by repaying bank loans this year.

(Reporting by Svetlana Burmistrova and Anastasia Lyrchikova; Writing by Jack Stubbs; Editing by Maria Kiselyova)

Copyright 2017 Thomson Reuters. Click for Restrictions.

WHAT DO YOU THINK?

Click on the button below to add a comment.
Post a Comment
Generated by readers, the comments included herein do not reflect the views and opinions of Rigzone. All comments are subject to editorial review. Off-topic, inappropriate or insulting comments will be removed.

Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE



Most Popular Articles

From the Career Center
Jobs that may interest you
Location Manager I - Saybolt
Expertise: Business Development|Facilities Management|Surveying
Location: Texas City, TX
 
Legal Assistant
Expertise: Legal
Location: San Ramon, CA
 
Paralegal
Expertise: Legal
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $55.47/BBL 0.69%
Light Crude Oil : $52.48/BBL 0.30%
Natural Gas : $3.41/MMBtu 0.29%
Updated in last 24 hours