ISG Shares Priced at $28 for Its IPO
Dec. 12, 2003
RICHFIELD, Ohio (AP) _ International Steel Group Inc. said Thursday its initial public offering of 16.5 million shares of common stock has been priced at $28 per share.
Goldman, Sachs & Co. and UBS Securities LLC are acting as joint lead managers of the offering that could raise $462 million, with shares trading Friday morning on the New York Stock Exchange. The company's stock symbol is ISG.
The Richfield, Ohio-based company describes itself as the second largest integrated steel producer in North America, based on more than 18 million tons of steel products produced annually.
It ships a variety of steel products from 11 steel producing and finishing facilities in six states.
The company was formed in 2002 by New York-based WL Ross & Co. LLC's acquisition of LTV Steel facilities that were idled in bankruptcy.
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