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ISCOR ANNOUNCES PRICE FOR RIGHTS OFFER.

Asia Africa Intelligence Wire

| March 01, 2002 | COPYRIGHT 2002 Financial Times Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan.  All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)Copyright

South African steel producer Iscor Limited announced on Friday that it had fixed its rights offer share price at R10,92. A statement from the company said this figure constituted a 25 percent discount, determined by affixing the lower of the five- or 15-day weighted average share price, immediately prior to February 28. "The company plans to raise R1,67- billion with the rights issue, which will place an additional 152 million Iscor shares on its register," the statement said. Iscor confirmed that shareholders would be entitled to purchase 52,2 shares at the offer price of R10,92 per ...

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