TopStockPlays.com carries a comprehensive analysis of MT, X, GGB, AKS
Pompano Beach, FL -- (SBWIRE) -- 01/09/2013 -- ArcelorMittal (ADR) (NYSE:MT), the largest steelmaker, is seeking almost $3.5 billion by selling shares and bonds that automatically turn into stock to decrease debt. In addition, it declared a proposal for a ThyssenKrupp AG (TKA) facility in Alabama.
What MT’s Charts Are Signaling for Traders? Find Out Here
The company stated in a statement that ArcelorMittal plans to use the net proceeds from the mutual offering to decrease existing indebtedness. The Luxembourg-based steelmaker stated that the sale, together with other proposals, will help trim debt to almost $17 billion by the close of June.
In accordance with a copy of the term sheet obtained by Bloomberg News, ArcelorMittal is offering $1.75 billion in common shares and an additional $1.75 billion in mandatory convertible subordinated notes.
It is the largest share sale by the firm since it sold $3.2 billion in stock in 2009, in relation to data collected by Bloomberg.
At the current trading session, ArcelorMittal (ADR) (NYSE:MT) shares are down -4.11% to $16.82 while the stocks are trading within the range of $16.63 – $17.21. In the past year, the stock has traded within a range of $13.28 – $23.62. Average daily trading volume is 4.85 million shares.
Has MT Found The Bottom And Ready To Gain Momentum? Find Out Here
If we look at a few other stocks within industry, United States Steel Corporation, Gerdau SA and AK Steel Holding Corporation were in the top volume leaders. Let’s have a quick look on their Market performance.
United States Steel Corporation (NYSE:X) shares are up +1.16% to $25.30 while the stock is trading within the range of $24.80– $25.64 in the current trading session. In the last 12 months the shares have traded between $17.67 and $32.52. The average daily trading volume is 7.61 million shares.
Why Should Investors Buy United States Steel After The Recent Gain? Just Go Here and Find Out
Gerdau SA (ADR) (NYSE:GGB) shares in the current session moved down -2.97% reaching $9.16. The stocks are trading in a range of $9.15 – $9.37. In the last year the stock has moved within a range of $7.51 – $10.82. The Company’s average daily trading volume is 6.19 million shares.
Will GGB Get Buyers Even After The Recent Rally? Find Out Here
Another rival company, AK Steel Holding Corporation (NYSE:AKS), is trading up +1.28% to $4.75. Intraday trading recorded the stock price in a range of $4.72 to $4.86. In the previous 52 weeks the stock’s price ranged between $3.42 and $10.33. Their average daily trading volume is 8.39 million shares.
For How Long AKS’s Gloss will Attract Investors? Find out via this report
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