OREANDA-NEWS.  TMK's Board of Directors at the meeting on June 27 made a decision to approve a share capital increase by the issuance of additional shares in the amount of 56,000,000 shares under open subscription. The offering price will be determined by the Board of Directors and announced not later than the beginning of the shares placement.

The proceeds from the follow-on offering will be used to finance earlier announced investment projects and other current needs as well as to optimize TMK’s capital structure.