05
Nov
09:22
Krakatau Steel gains $1bn in asset valuation
Indonesian state-owned steelmaker PT Krakatau Steel saw its shares leap on Thursday after it announced that the value of land held by the company was 33 times higher than previously estimated. The new valuation will likely help Krakatau break a run of net losses, despite not improving the underlying performance of the company, Kallanish notes.
The steelmaker now says land held by its units is worth $1.13 billion, up from $33.6 million previously. That assessment…
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Anonymous
Very good overview of the weekly steel market.
Anonymous