OREANDA-NEWS. September 30, 2014. EVRAZ North America (the “Company”), a subsidiary of EVRAZ plc (“EVRAZ”), announced today that it has filed a registration statement with the Securities and Exchange Commission (the “SEC”) relating to the proposed initial public offering (“IPO”) of ordinary shares in the Company.

The number of shares to be offered and the price range for the offering have not yet been determined.

The Company intends to use the net proceeds of the proposed offering to complete the acquisition of certain North American assets from EVRAZ, to repay existing intercompany debt to EVRAZ, and for general corporate purposes.
 
Following the IPO, EVRAZ will continue to be the majority owner of the Company. The proposed IPO does not represent a change to the Company’s operating model or business strategy.

Citigroup and Goldman, Sachs & Co. are acting as the joint book runners for the proposed offering.

The offering will be made only by means of a prospectus, which, when available, may be obtained by contacting: (1) Citigroup, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, (800) 831-9146; or (2) Goldman, Sachs & Co., Attn.: Prospectus Department, 200 West Street, New York, NY 10282, (866) 471-2526, prospectus-ny@ny.email.gs.com.

A registration statement relating to the proposed offering has been filed with the SEC but has not yet become effective. The shares to be registered may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. This press release shall not constitute an offer to sell, or the solicitation of an offer to buy, any securities, nor shall there be any sales of securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction.