LUXEMBOURG -- (Marketwired) -- 06/09/16 --
Tenaris S.A. (NYSE: TS) (BAE: TS) (BMV: TS) (MILAN: TEN) announced today, in connection with the previously-announced issuance of 200 million ordinary shares of Usinas Siderúrgicas de Minas Gerais - Usiminas at BRL 5.0 per share, that all entities within the Ternium/Tenaris Group (including TenarisConfab) have exercised their rights to subscribe to their corresponding portion of the shares left unsubscribed in the initial subscription round.
Today, TenarisConfab subscribed to 4.2 million ordinary shares for a total amount of BRL 20.9 million (approximately USD 6.2 million), and also indicated its willingness to subscribe to ordinary shares that remain unsubscribed following the completion of this second subscription round (if any).
Taking into consideration the ordinary shares subscribed to in the first round on May 23, 2016, TenarisConfab subscribed to 9.3 million ordinary shares for a total amount of BRL 46.2 million (approximately USD 13.4 million).
Some of the statements contained in this press release are "forward-looking statements". Forward-looking statements are based on management's current views and assumptions and involve known and unknown risks that could cause actual results, performance or events to differ materially from those expressed or implied by those statements.
Tenaris is a leading global supplier of steel tubes and related services for the world's energy industry and certain other industrial applications.
Source: Tenaris S.A.
News Provided by Acquire Media