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Vulcan Steel Initiates Retail Entitlement Offer to Raise Capital

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Vulcan Steel Initiates Retail Entitlement Offer to Raise Capital

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Vulcan Steel Ltd. ( (AU:VSL) ) has provided an update.

Vulcan Steel Limited has announced the dispatch of its Retail Offer Booklet to shareholders as part of a 1 for 9 underwritten pro rata accelerated renounceable entitlement offer. The offer price for the retail component has been set at NZ$6.60, determined using an exchange rate of A$1 to NZ$1.10908. This initiative is aimed at raising capital and involves eligible shareholders in Australia and New Zealand, potentially impacting the company’s financial positioning and stakeholder engagement.

The most recent analyst rating on (AU:VSL) stock is a Hold with a A$6.00 price target. To see the full list of analyst forecasts on Vulcan Steel Ltd. stock, see the AU:VSL Stock Forecast page.

More about Vulcan Steel Ltd.

Vulcan Steel Limited is an Australasian industrial product distributor and value-added processor with a network of 66 logistics and processing facilities. The company employs approximately 1,350 staff across its Steel and Metals divisions.

Average Trading Volume: 71,714

Technical Sentiment Signal: Hold

Current Market Cap: A$830.2M

Find detailed analytics on VSL stock on TipRanks’ Stock Analysis page.

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