STXNEWS LATAM-Argentina's Siderar up on plan to raise capital
Shares in Argentine steelmaker Siderar (SID.BA) were trading up 2 percent at 24.45 pesos per share after the company called a November shareholder meeting to discuss a proposal to raise capital by issuing about 4 billion new shares priced at a nominal value of 1 Argentine peso per share. Traders said the move would be aimed at increasing the liquidity of the company's stock.
Siderar is majority-owned by Ternium SA (TX.N), which is controlled by Argentina's Techint conglomerate and has steel operations in Mexico and Argentina.
($1 = 4.4425 Argentine pesos) Reuters Messaging: email@example.com