MECHEL STARTS PREFERRED SHARE PLACEMENT, COULD RAISE 2 BILLION DOLLARS

摘要

The Mechel coal and steel group has announced the commencement of its placement of preferred shares and Global Depositary Receipts (GDR) for those shares. The company said the preferred shares would be listed on Russia's RTS and MICEX Stock Exchange, and the GDR on the Frankfurt Stock Exchange. Mechel plans to place up to 55 million newly issued preferred shares in Russia and abroad, representing 11.67 percent of share capital post-offering.