The shares of the Chelyabinsk metal works have increased by 40%

On Thursday, the shares of the Chelyabinsk metal works of Mechel have increased in price at MICEX by 39.86% to 1,193 rubles per stock when the bidding was opened. On Wednesday, the CEO of Mechel O. Korzhov claimed that his company was ready to sell the Chelyabinsk metal works if an appropriate price was offered. Mechel suggests to buy either a part or the whole shareholding in Chelyabinsk metal works.

Mechel has to sell the main enterprises due to demands of the creditors to reduce its debt burden. While the second wave of the assets sales, the company is going to raise up to $3 billion. Mechel invested $1 billion into upgrading of Chelyabinsk metal works. Besides from the latter, Mechel can sell the Elga coal deposit or a part and the railway to the deposit, and several other assets.