Ferrexpo (LSE:FXPO) has completed an oversubscribed equity fundraise involving 448,848,484 new ordinary shares at an issue price of 16.5 pence per share, raising approximately US$100 million from existing and new institutional investors.
The financing includes a US$50 million cornerstone commitment from investor Andriy Verevskyi and a subscription from major shareholder Fevamotinico. The issuance of the new shares will increase Ferrexpo’s outstanding share capital and dilute the percentage holdings of shareholders who do not participate in the fundraise.
Ferrexpo said the proceeds will strengthen its liquidity and support the restart of production in Ukraine and the resumption of exports to customers in Europe and other international markets.
The company also intends to use the funding to reinstate previously deferred capital expenditure and increase production when operating conditions allow. Management said the restart would support thousands of jobs in Ukraine.
Fundraise Subject to Shareholder Approval
The equity financing remains conditional on shareholder approval at a general meeting scheduled for 21 September 2026.
Subject to approval, admission of the new shares to trading on the London Stock Exchange is expected on 22 September.
The 16.5 pence issue price represents a discount to Ferrexpo’s share price before its trading suspension.
Trading in the company’s existing shares is scheduled to resume on 7 September following the publication of its audited annual accounts.
More about Ferrexpo
Ferrexpo is a Swiss-headquartered iron ore company with operations in Ukraine and a listing on the London Stock Exchange.
The group produces iron ore pellets for steel manufacturers and has supplied customers internationally for more than 50 years.
Ferrexpo’s production and export activities have been affected by operating conditions associated with the war in Ukraine. The company serves customers in Europe and other international markets and plans to use part of the new financing to support the resumption of production and exports.
