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    5401   JP3381000003

NIPPON STEEL CORPORATION

(5401)
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Nippon Steel sells 7.9% stake in Acerinox for 218 million euros

06/18/2021 | 05:28am EDT
FILE PHOTO: The logos of Nippon Steel Corp. are didplayed at the company headquarters in Tokyo

MADRID (Reuters) - Nippon Steel said on Friday it had sold a 7.9% stake in Spanish steel maker Acerinox for 218 million euros through a private placement.

The stake was sold at 10.2 euros per share, which represented a discount of 5.7% from Acerinox's Thursday closing price.

Acerinox were down 5.8% on Friday morning.

After the placement, Nippon Steel still held a 7.9% stake in the company.

The company said 10 months ago that its stake in Acerinox was "financial", that is, susceptible to being sold, according to local newspaper Cinco Dias.

(Reporting by Cristina Galán and Tomas Cobos; editing by Inti Landauro and Jason Neely)


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
ACERINOX S.A. -2.89% 11.255 Delayed Quote.24.58%
NIPPON STEEL CORPORATION -0.03% 1892 End-of-day quote.42.47%
UBS GROUP AG -0.40% 14.94 Delayed Quote.19.81%
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Financials
Sales 2022 6 216 B 56 689 M 56 689 M
Net income 2022 268 B 2 441 M 2 441 M
Net Debt 2022 2 409 B 21 973 M 21 973 M
P/E ratio 2022 6,36x
Yield 2022 4,49%
Capitalization 1 742 B 15 872 M 15 888 M
EV / Sales 2022 0,67x
EV / Sales 2023 0,67x
Nbr of Employees 106 226
Free-Float 92,4%
Chart NIPPON STEEL CORPORATION
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Nippon Steel Corporation Technical Analysis Chart | MarketScreener
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Technical analysis trends NIPPON STEEL CORPORATION
Short TermMid-TermLong Term
TrendsNeutralBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 10
Last Close Price 1 892,00 JPY
Average target price 2 652,22 JPY
Spread / Average Target 40,2%
EPS Revisions
Managers and Directors
Eiji Hashimoto President & Representative Director
Kosei Shindo Chairman
Shuhei Onoyama Representative Director & Vice President
Mutsutake Otsuka Independent Outside Director
Ichiro Fujisaki Independent Outside Director
Sector and Competitors
1st jan.Capi. (M$)
NIPPON STEEL CORPORATION42.47%15 872
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