Mechel Mining, the mining subsidiary of Mechel is to increase its authorized stock by quarter; some experts believe it to be a step to IPO. Mechel itself held IPO as early as 2003.

According to official papers, the offering will be placed privately. According to the company charter, its authorized stock comprises 12.2 bn shares, of 10 roubles nominal each, 4.07 bn shares being "declared" (authorized for issuance in addition to those outstanding). Even at the nominal price the subscribers will have to pay 40.7 bn roubles to buy out the follow-on offering.

Theme:  Finance/Coal/Outside Russia