ArcelorMittal (ADR) (NYSE:MT) Looks for $3.5 Billion Dollars Through Selling of Shares

New York, NY -- (SBWIRE) -- 01/10/2013 -- ArcelorMittal SA (NYSE:MT) is a Luxembourg-based company involved in the mining and steel industry. In 2011, the Company had crude steel production of 91.9 million tones. In 2011 the Company has 29 mining operations. It operates in divisions: Flat Carbon Americas; Flat Carbon Europe, Long Carbon Americas and Europe; Asia, Africa and Commonwealth of Independent States (CIS) (AACIS), and Distribution Solutions. The Company's portfolio of products includes finished, semi-finished, long and flat products, such as slabs, hot-rolled coil, cold-rolled coil, coated steel products, tinplate and heavy plate, as well as billets, blooms, rebars, wire rod, sections, rails, sheet piles and drawn wire.

ArcelorMittal (ADR) (NYSE:MT) stock fell 5.02% to $16.65 in the pre-market hour after the company announced its intention to offer common stock (“the Shares”) and mandatorily convertible subordinated notes (the “MCNs”) for an expected amount of approximately USD 3.5 billion (“the Combined Offering”). The Company retains the flexibility to adjust the relative proportions of MCNs and common stock offered in the Combined Offering.

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