Finance History | Nasdaq MarketSite — A Hundred Forty Million for a Butler Mill Book Called STLD
· 1996-11
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Finance History | Nasdaq MarketSite — A Hundred Forty Million for a Butler Mill Book Called STLD
kevin
People treat Steel Dynamics as a Fort Wayne steel house that always printed STLD after a finished Nasdaq book.
The first cash offering came in the mill's first shipping year.
The company's own history page records that Steel Dynamics went public in 1996 with its initial listing on the Nasdaq Stock Exchange under the letters STLD.
A Form 10-Q filed after the offering records that the company raised approximately 140.2 million dollars net of expenses with that November 1996 initial public offering.
About 56.0 million dollars of the proceeds prepaid subordinated notes, including accrued interest and prepayment fees.
The mechanism is a cash initial public offering of a new electric-arc mill, not a transfer from another listed book.
The present tape is still STLD on the Nasdaq Global Select Market.
The pin is the public Times Square facade of Nasdaq MarketSite, the present street marker for that tape.
Interior trading is not visitable from the sidewalk.
Photo: Luca Marfe, June 2015, CC BY 2.0, via Wikimedia Commons. Nasdaq MarketSite.
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