Analysts thought that ThyssenKrupp's proceeds from its latest share sale was not enough to aid the company to turn into a profitable empire. Despite raising EUR882 million or USD1.2 billion by selling new shares, ThyssenKrupp saw itself taking back two, previously-sold plants and had failed to sell a loss-making one.

Metzler analyst Lars Hettche said, "We think that the size of the capital increase is too small." Hettche also added that should there be any new problems at either of the re-acquired businesses or the Brazilian steel mill might trigger a need to do another fundraising.

Thomas Hechtfischer of shareholder rights group DSW commented, "The capital increase eases the pressure a bit. But it would be difficult to digest any more bad news."

On the other hand, the fundraising activity saw the ownership stake of activist shareholder Cevian increased to more than 10%, sources who were familiar with the matter said. Cevian's increased holding, said Reuters, could add more pressure on the largest steelmaker to mull over a much-bigger sharekup like asset sales.

ThyssenKrupp had been suffering losses for three years straight, racking up debts while trying to move away from a weak bulk steel market and focus more on elevators and factory components, and other profitable products.

ThyssenKrupp offered 51.5 million new shares to institutional investors at EUR17.15 per share. The share price was at the lower end of its pricing range, which was at EUR17.05 to EUR17.635 per share and a 2.8% discount from Monday's closing price, the news agency noted. Proceeds from the share sale will be use to reduce the net debt of the company, which is at around EUR5 billion at the end of September, the report said. Moreover, the reduction of the net debt will have ThyssenKrupp reducing its net debt to equity ratio, which would open up loan opportunities. In September, creditors were seen to have canceled a EUR2.5 billion credit line of the company as ThyssenKrupp breached its 150% percent gearing level.