(Corrects company to say that the Mechel (MTLR) Mining unit is planning a share sale in headline, first paragraph of story published July 1.)
OAO Mechel, Russia’s largest miner of steelmaking coal, said its Mechel Mining unit plans a public offering of 3.64 billion shares with a nominal value of 7.37 rubles apiece.
The mining unit’s board of directors decided on the sale at a meeting yesterday, Moscow-based Mechel said today in a website statement. Board members also appointed Igor Zyuzin as general director effective July 5.
Ekaterina Videman, a spokeswoman for the company, declined to comment by telephone today.
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