TMK, Russia's largest maker of steel pipes for the oil and gas industry, said yesterday that it will sell 44 million additional shares as part of a financing deal with VTB bank.
TMK agreed a deal with VTB last year to raise around 10 billion roubles (US$147.09 million) by selling its shares. The funds will be used to reduce debt by repaying bank loans this year.
Edited from various sources by Elizabeth Corner
