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TKC Steel raising $1B for expansion.
Byline: Abigail L. Ho
TKC STEEL CORP. IS SEEKING TO raise up to $1 billion in funds to finance its ongoing expansion program in the country.
In a disclosure to the Philippine Stock Exchange yesterday, the countrys only publicly listed steel company said it has appointed Pricewaterhouse Coopers Financial Advisors Inc. to lead the fundraising exercise.
Under the terms of the agreement, Pricewaterhouse as project management adviser will identify prospective strategic partners or investors for TKC Steel and prepare a work program for the fundraising effort.
Proceeds from the fundraising exercise will be used to undertake backward integration …
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