OAO Raspadskaya, 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 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.