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Mechel to float preferred shares

      RBC, 15.05.2008, Moscow 09:55:36.Mechel's Board of Directors resolved to float 55m preferred shares by public offering, the steel and mining company said in a statement. The issue's face value amounts to RUB 10 (approx. USD 0.42) per share. As reported earlier, Mechel shareholders approved the total of 138,756,915 authorized preferred registered uncertificated shares amounting to RUB 1,387,569,150 (approx. USD 58.179m) that the company could issue.

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