Nyrstar has rolled out a nearly €500 million rights issue, Financial Times reports. The Swiss producer of zinc metal intends to use the net proceeds to pay for new purchases as well as service the costs of last year’s acquisitions.

Glencore and BlackRock, Nyrstar’s two majority shareholders, will subscribe to its seven-for-10 offering at €7 per share. The offering will be a euro-denominated rights issue.

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