Raspadskaya Slides to Three-Week Low as Share Buyback Closes

OAO Raspadskaya (RASP), a Russian coal miner, fell to its lowest level in almost three weeks as the company stopped accepting bids for a share buyback.

The stock dropped 0.8 percent to 106.15 rubles as of 5:36 p.m. in Moscow, headed for it weakest close since Jan. 12.

Raspadskaya (RASP) is aiming to buy back as much as 10 percent of its stock for 150 rubles a share. The company stopped accepting bids to repurchase the shares at 2 p.m. in Moscow today, according to its press-office. The results of the buyback are due to be announced by Feb. 7.

Steelmaker Evraz Plc and Raspadskaya’s management jointly control 80 percent of the company.

To contact the reporter on this story: Yuliya Fedorinova in Moscow at yfedorinova@bloomberg.net

To contact the editor responsible for this story: John Viljoen at jviljoen@bloomberg.net

Bloomberg reserves the right to edit or remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.