Mechel Said to Delay $2 Billion IPO Plan for Coal Mine Unit

Bloomberg reported that Mechel (MCX:MTLR) is postponing its planned coal IPO.

The market news is quoted as saying:

Mechel has notified the banks hired to manage the initial public offering, the people said, asking not to be identified as the information is private. The Moscow-based company cited unfavorable market conditions for its decision, they said.

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