Swedish steel company Stegra has completed a new share issue as part of its ongoing capital raising process to finance the completion of its green steel plant in Boden, northern Sweden, according to Swedish media reports.
As part of the capital increase, the company issued about 850 million new shares, increasing the total number of shares by about 23 percent.
Turkish industrial group enters green steel project
Major Turkish industrial conglomerate Koç Holding and the Koç family joined the funding round as new investors.
Together, the two investors subscribed to about two percent of the newly issued shares, marking the entry of a major Turkish industrial player in the Stegra project.
Koç Holding operates in several industrial sectors, including automotive, oil refining and white goods.
The facility is designed to produce steel using low-carbon technologies and is expected to play an important role in Europe's transition to carbon-neutral steel production climate.
