Raspadskaya Shares Too Low for London Offering, Uralsib Says
Stock Chart for Raspadskaya OAO (RASP)
OAO Raspadskaya, Russia’s largest producer of coking coal, said its share price is “too low” to carry out a secondary offering in London, Uralsib Financial Corp. said, citing the Kemerovo, Siberia-based company’s management.
Raspadskaya managers have an option to buy a 40 percent stake in the company held by Evraz Group SA, Russia’s second- largest steelmaker, though they haven’t held any negotiations on such a deal, Uralsib said today in an e-mailed note to clients, citing Raspadskaya Chief Executive Officer Gennady Kozovoy.
Raspadskaya rose 4.61 rubles, or 2.7 percent, in Moscow today to close at 174.59 rubles ($5.87) a share.
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