CJSC Razrez Raspadsky, a member of the Raspadskaya coal group, won a November 2 auction for the rights to the Raspadsky IX-XI coal block in the Kemerovo region, an Interfax correspondent reports
Russian coal companies need at least 160 billion rubles to develop their coking coal production capacities in 2006-2010.
Portfolio investors may soon purchase shares of the Russian coal company. Vedomosti maintains that shareholders of "Raspadskaya" - Evraz Group and company's management - will reportedly list up to 20% of shares at one of the Russian stock exchanges by the end of the year.
"Raspadskaya" coal company has decided to make itself more attractive in the eyes of potential investors before the coming IPO. "Raspadskaya" has included in its Borard of Directors two independent directors and approved the dividend policy. The company has pledged to use for dividends no less than a quarter of its net profits.
The coal mine has introduced new members in the Board of Directors on the eve of IPO
Raspadskaya Coal Company is one of the most stable, promising and high-tech companies in the Russian coal industry. The company accounts for approximately 14% of coking coal, 25% of fat coal, and over 56% of gas-rich coal produced in Russia.
The shareholders of Raspadskaya approved at the annual shareholders meeting a supplemental share issue. According to the company’s official statement, the shares will issued both for purchase and to be swapped for shares in Mezhdurechenskaya Coal Company.
Evraz is expanding its coal empire. As Vedomosti discovered, the group’s partners at the Raspadskaya Mine, the Raspadskaya Coal Company, is planning to acquire several assets in the coal industry. These additional assets will lead to an increase in production of 1.5 times, bringing the level to 10 million tons per year. For Evraz to maintain its stake in the company at 48%, it will have to buy up shares in a supplemental issue.
Gennady Kozovoi announced that Raspadskaya Coal Company (RCC) plans to invest 3.2 billion rubles on development in 2006. Raspadskaya Coal Company buys from Directum.
On Friday, Directum announced that it had signed a deal with Raspadskaya Coal Company to supply and implement an electronic documentation system.
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