* Q4 net loss $11.1 mln vs loss $9.7 mln year ago
* Q4 revenue rises 73 pct
* Shares down as much as 11 pct
March 16 General Steel Holdings Inc GSI.N
posted a wider fourth-quarter loss, hurt by a rise in raw
material costs, sending its shares down as much as 11 percent.
In the latest quarter, the Chinese producer of steel
products posted a net loss of $11.1 million, or 26 cents a
share, compared with a loss of $9.7 million, or 27 cents a
share, a year ago.
In December, General Steel offered 5.6 million common
shares and warrants to buy up to 2.8 million common shares, in
units priced at $4.50 apiece.[ID:nSGE5BN0B9]
Revenue for the quarter rose 73 percent to $451.9 million.
Two analysts on average were looking for a loss of 2 cents
a share, before items, on revenue of $454.4 million, according
to Thomson Reuters I/B/E/S.
The company said its cost of revenues rose 55 percent to
$438.6 million, with the cost of iron ore and coke accounting
for about 76 percent of the costs.
Shares of the Beijing-based company fell 11 percent to
$3.87 in early trade, but pared some losses to trade down 7
percent at $4.06 Tuesday morning on the New York Stock
(Reporting by Arundhati Ramanathan in Bangalore; Editing by