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ArcelorMittal continues to float shares in Ereğli Demir Çelik

ArcelorMittal announced that the company floated 6.8 million Erdemir (EREGL TI) shares on 8th March, 2023. With the latest transaction, ArcelorMittal's share in Erdemir has fallen to 170.7 million shares (4.88% of the company). Then...

ArcelorMittal continues to float shares in Ereğli Demir Çelik
Arcelor Mittal, the world's largest multinational steel manufacturing company based in Luxembourg, continues to float shares in Ereğli Demir Çelik. The company also sold about 10 million lots on Friday.
Since December 12, when Arcelor Mittal started selling, the total amount of sales has exceeded 270 million lots. The company is believed to have about 170 million lots of shares in its settlement. Arcelor Mittal sells an average of 10 million lots per day at every price.
Why is Arcelor Mittal floating its shares of ERDEMİR?
According to the allegations, ArcelorMittal will buy its own shares that have decreased on the London stock exchange with the money obtained from the sale of Eregli.
Who is ArcelorMittal SA?
ArcelorMittal SA is a multinational steelmaking company based in Luxembourg. It was acquired by India's Mittal Steel in 2006 and by 2018 it has become the world's largest steel producer.
Plan Arcelor Mittal, which owns 12 percent of the Ereğli Iron and Steel Factory, has been selling shares for about 3 months. If there is no significant development, it is expected to finish these sales within 2 weeks.

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