NEW YORK — ArcelorMittal SA expects to raise about $4 billion through a combined offering of stock and convertible notes, the company said in an update Thursday.

The Luxembourg-based steelmaker offered 104 million shares of common stock at $16.75 per share, which will raise nearly $1.75 billion before reduction for commissions.

It priced the mandatorily convertible notes at the same minimum conversion price as the common stock and a maximum of $20.94, which is expected to generate another $2.25 billion.

As part of the offering, the Mittal family has placed an order for $600 million worth of common stock and convertible notes, split equally between the two.

The moves are part of an effort to reduce the company’s debt to $17 billion by the end of June.

ArcelorMittal’s stock ended Thursday at $17.52 per share on the New York Stock Exchange, up 4.1 percent from Wednesday’s close at $16.