MOSCOW, March 26 (Reuters) - Mechel MTL.N, Russia's largest coking coal producer, said in a statement it will begin placing 138.8 million preferred shares on April 1.
The company said last month it would issue preferred shares totalling 15 percent of its charter capital as part of an agreement to acquire U.S. rival Bluestone Coal Corp from the James Justice family. [ID:nLQ435071]
The New York-listed company, controlled by billionaire Igor Zyuzin, postponed in August a preferred share offering indefinitely as its stock was hit by the market downturn and government criticism over its coal pricing. (Reporting by Alfred Kueppers, editing by Toni Vorobyova)
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