steel

The mega-merger of two Chinese steelmakers has a lot of benefits for the country. But it is a terrible deal for shareholders.

The shares are sold to a small group of investors through a club deal at a 4.76% discount.

The sale of a 5.8% stake in Steel Authority of India enables the government to meet its revised divestment target for the current fiscal year, but only with a little help from other state-owned entities.

The Indonesian maker of steel pipes attracts strong demand from both domestic and international investors as it aims to raise $88 million.

PanAsialum, a Chinese manufacturer of aluminium products, and Time Watch, a watch manufacturer, raise a combined $264 million from their offerings, while this year's first Indonesian IPO gets underway.

General Nice and Minmetals Cheerglory have agreed to buy a 36% stake in the Hong Kong-listed iron ore mining company.

The Korean company decides not to proceed with its offering of up to $426 million, which could have been the biggest in Korea this year.

After cancelling a block trade at the end of last month, SK Telecom returns with a bigger deal during the weekend, raising $391 million.

The cancelled block trade accounted for 1.15% of the Korean steelmaker and was offered at a discount of up to 4%. Meanwhile, a controlling shareholder in Hong Kong-listed Hop Hing sells $91 million worth of shares.