Mechel’s shares fall by over 15%

During today's trading on the Moscow Stock Exchange Mechel’s shares fell over 6 rubles. On Friday, 1 share of the metallurgical company cost 35.1 rubles, yesterday in the evening the value of its paper fell to 29 rubles.

At the same time, the cost of Mechel’s depositary receipts dramatically fell on the New York Stock Exchange. The trading of Mechel’s securities opened at the level of $0.95 per share in New York, which is by about 34.5% below the closing level of September 19th, 2014.

"The sharp decline in the value of the company’s shares was caused by rumors about the ongoing negotiations on the company’s debt restructuring," - a representative of the company said. "Mechel is making every effort to reach a mutually beneficial solution that would suit all parties," - he added.