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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