Russia’s Mechel could list shares in Q2
Russian steel and coking coal producer Mechel (MTL.N) is reported to list its preferred shares in New York in the second quarter.
The press release is quoted as saying:
A listing would allow the U.S.-based James Justice family to sell some of the 83.3 million preferred Mechel shares they acquired via the 2009 sale of Bluestone Coal Corp to Mechel, the source added. Mechel placed 138.8 million shares in April, 2009 and purchased them through its own Skyblock investment vehicle. Shares which were not given to the Justice family are still held by the Russian company. [ID:nL3123978] However, the source said that Mechel does not plan to sell any of these shares at present.
Click here to access the entire press release
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Mon, Mar 1, 2010
Post by Mike Rodger, Coal Reporter