MOSCOW (Thomson Financial) - OAO Mechel said its shareholders on April 30
approved a resolution to register 138.8 million preferred shares that the coal,
steel and energy conglomerate could issue at an unspecified future date.
Earlier reports appeared in the Russian press stating that Mechel wants to
raise up to $1.5 billion through a preferred share issue in order to fund the
development of coal fields acquired last year.
alfred.kueppers@thomsonreuters.com
amk/slm
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