Mechelís minority shareholders lose over 30 billion RUR

The ongoing fall of Mechelís stocks (presumably brought about by Prime Minister Vladimir Putinís unfavorable critique) has already made some of the companyís investors lose money. The share quotations dropped by over 45% and 40% at Russian stock exchanges and at New York Stock Exchange, respectively, on July 25, 2008. The enterpriseís market capitalization decreased by more than 115 billion RUR in just one day.

Mechel Group reports about a quarter of their shares can be bought and sold freely, while the rest of the stock belongs to investors, Igor Zyuzin being the major one. Following the decrease in the share price, some of Mechelís private minority shareholders in Russia and abroad sustained over 30 billion RUR worth of losses. A lot of investors who bought shares of other Russian companies that are not doing very well either lost some money as well. The Russian stock marketís capitalization might decrease by trillions of rubles at the end of the day.


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