Mechel is seeking to raise about $1.5 billion in an initial public offering (IPO), Reuters reports. The offering will be made via placement of up to 25% of the shares in its mining operations this autumn. Mechel planned an IPO of its mining division in the second half of this year. The Russian mining and metallurgical company produces coal, iron ore, nickel steel, rolled steel products, hardware, heat and electric power.

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