SAO PAULO, June 16 (Reuters) - Usinas Siderúrgicas de Minas Gerais SA said on Thursday that the first round of a capital injection plan raised 841.595 million reais ($243 million), a key step to help Brazil's largest listed flat steelmaker refinance debt and fight its worst crisis in decades. In a securities filing, Usiminas said that additional allotments could be subscribed by shareholders until June 23, when the capital injection plan must be finalized. The company aims to fetch 1 billion reais with the process.
The plan will fail and the company will be bankrupt.
( z1 and :op ( z2 fail :ARG1 ( z3 plan ) ) :op ( z4 bankrupt :ARG1 ( z5 company ) ) )