Swiss Steel Holding AG Completes Capital Increase, Secures EUR 300 Million

Swiss Steel Holding AG announced the successful completion of its share offering related to its capital increase on April 18, 2024. The company issued a total of 3,101,000,000 new registered shares. Specifically, 1,067,992,920 shares were subscribed by existing shareholders including BigPoint Holding AG, while 2,033,007,080 shares were allocated to BigPoint Holding AG in a bookbuilding process. Each new share was priced at CHF 0.0925.

The gross proceeds from this capital increase reached EUR 300 million. Net proceeds amounting to approximately EUR 294 million will be utilized to bolster Swiss Steel's capital structure and liquidity. Additionally, funds will aid in reducing the company’s debt, allowing Swiss Steel to focus on re-entering the market amid an anticipated economic improvement.

This capital adjustment also modified the nominal value of shares from CHF 0.15 to CHF 0.08. Consequently, Swiss Steel’s share capital will increase from CHF 458,828,620.65 to CHF 492,788,597.68. BigPoint Holding AG, having exercised all its subscription rights and accrued additional shares in the placement, will hold about 66.6% of the total share capital and voting rights post-offering.

All transactions related to this capital increase are set for completion by April 25, 2024, as per the timing outlined for share listing and trading on the SIX Swiss Exchange.