LONDON July 8: Ispat International N V is all set to become the first NRI company to be listed on the New York and Amesterdam stock exchanges with a public offering of class-A common shares.

The company, owned by a husband and wife team, recently filed a registration statement with the Securities & Exchange Commission (SEC) for its planned initial public offering through which it is expected to mop up $ 450 million. "The listed company known as Ispat International NV is being organised to include some of the major steel making assets of Lakshmi Mittal including Ispat Mexicana, Carribean Ispat Limited in Trinidad & Tobago, Sidbec-Dosco Ispat (Inc) in Canada, Ispat Hamburger Stahlewerke Gmbh in Germnay and Irish Ispat in Ireland,'' a company official said in London yesterday. The move by Lakshmi Mittal to go for international listing of his acquisition driven company Ispat International is apparently aimed at more steel plants acquisition as well as expansion and capital infusion in some of his newly-acquired steel plants.

Copyright © 1997 Indian Express Newspapers (Bombay) Ltd.