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Raspadskaya Shares Too Low for London Offering, Uralsib Says

March 3 (Bloomberg) -- 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.

To contact the reporter on this story: Ilya Khrennikov in Moscow at ikhrennikov@bloomberg.net.

To contact the editor responsible for this story: Simon Casey at scasey4@bloomberg.net.

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