Ryerson Pulls Initial Public Offering

CHICAGO, May 6 /PRNewswire/ -- Ryerson Holding Corporation (the "Company") announced today that it has decided not to proceed with the previously announced proposed offering of its common shares due to unfavorable market conditions caused by volatility in the global equity markets.  

"Given current market conditions, we believe it is prudent to discontinue the offering at this time," said Stephen E. Makarewicz, the Company's Chief Executive Officer and President.  "Our company is well-capitalized and well-positioned to wait until the global equity markets stabilize before deciding whether to proceed with a new offering."

This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of these securities, nor shall there be any sale of these securities in any state or jurisdiction in which the offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction.  The securities that were proposed to be offered were not approved or disapproved by any regulatory authority, nor did any such authority pass upon the accuracy or adequacy of the registration statement or the prospectus contained therein.

About the Company

Ryerson is a leading North American processor and distributor of metals, with operations in the United States and Canada, as well as in China.  The Company distributes and processes various kinds of metals, including stainless and carbon steel and aluminum products.

SOURCE Ryerson Holding Corporation