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The shareholders of "ArcelorMittal" Hunedoara subscribed shares worth 349.5 million lei as part of the share capital increase, below the amount approved in July, of 397.6 million lei.
In July, the shareholders had made the decision to increase the company"s share capital by 397.6 million lei, up to 545 million lei, in order to increase the company"s net assets and to provide the funding needed for investments.
By the September 14th deadline, shareholders had only subscribed shares worth 349.5 million lei, meaning the company"s share capital will only be increased by that amount.
"ArcelorMittal" announced in June that it would consult with shareholders in order to decide whether the company should increase its share capital or be dissolved, after its net assets fell below its share capital, following the losses of 222.5 million lei it posted in 2009.
The "ArcelorMittal" group, the world"s largest steelmaker, controls 87.89% of the company"s stock, and SIF "Banat-Crişana" (SIF1) holds 10.03%. The "ArcelorMittal" group holds four metallurgic plants in Romania, in Galaţi, Roman, Iaşi and Hunedoara. Other businesses that the company holds in Romania include port operator "Romportmet" Galaţi and "ArcelorMittal Construction" Romania.
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