Mechel holds off on new share issue
![Mechel holds off on new share issue](https://mf.b37mrtl.ru/files/oldfiles/business/mechel-holds-off-on-new-share-issue/489c61875a76c.si.jpg)
Steel group Mechel has postponed a proposed share issue indefinitely.
The company, which is also Russia's largest coal producer, has seen its stock recover half of a 60% drop which followed government criticism of its pricing policies.
The company had aimed to raise $2.5 billion next week, by issuing 55 million preferred shares.
However Prime minister Vladimir Putin's comments on the company's pricing policy and accusations of tax evasion cost the company $8 billion.
You can share this story on social media: