Bloomberg News

Raspadskaya Slides to Three-Week Low as Share Buyback Closes

January 31, 2012

Jan. 31 (Bloomberg) -- 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.

--Editors: Alex Nicholson, Stephen Kirkland

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


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