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 2016 Thomson Reuters. Click for Restrictions.
WHAT DO YOU THINK?
Click on the button below to add 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.
Most Popular Articles
From the Career Center
Jobs that may interest you