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Steel & Tube raises $17.8M

Steel & Tube Holdings sold the leftover shares from a rights issue at a premium to what was a discounted offer, raising another $17.8 million to repay debt. 

The Lower Hutt-based company sold the stock at $1.23 apiece, matching the last trading price, and a premium to the rights offer's deeply discounted $1.05 a share. The steel products maker ha

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