The listing of Russian steel and coal group Mechel's American Depositary Receipts on the New York Stock Exchange was cancelled on 3 January 2023. Mechel ADRs representing common shares were listed on the NYSE in 2004 and ADRs representing the company's preferred shares were placed in New York in 2010. Trading in the company’s securities has been halted since 28 February 2022. NYSE trading of ADRs representing Mechel's common and preferred shares was suspended on 6 December 2022. The exchange ruled that the company's ADRs no longer comply with listing rules, since Deutsche Bank announced plans to terminate the depository agreements for them. Mechel had the option to appeal the NYSE ruling but did not exercise it, the exchange said at the end of December. Mechel is one of Russia's leaders by production volume of coking coal concentrate. The company controls over a quarter of Russia’s coking coal washing facilities. Mechel is one of Russia's largest producers of long rolls and hardware, as well as Russia’s largest and most diversified producer of specialty steels and alloys.Chelyabinsk Metallurgical PlantBeloretsk Metallurgical PlantIzhstalUrals Stampings PlantVyartsilya Metal Products PlantMechel NemunasBratsk Ferroalloy PlantSouthern Urals Nickel PlantKaslinsky Plant of Art Casting Mechel's metal trading network comprises over 80 branches including 18 service centers. It consists of a Russian company and subsidiaries in the CIS member states, Western and Eastern Europe. Russian businessman Mr Igor Zyuzin and members of his family control 51.54% of common shares in Mechel.
The listing of Russian steel and coal group Mechel's American Depositary Receipts on the New York Stock Exchange was cancelled on 3 January 2023. Mechel ADRs representing common shares were listed on the NYSE in 2004 and ADRs representing the company's preferred shares were placed in New York in 2010. Trading in the company’s securities has been halted since 28 February 2022. NYSE trading of ADRs representing Mechel's common and preferred shares was suspended on 6 December 2022. The exchange ruled that the company's ADRs no longer comply with listing rules, since Deutsche Bank announced plans to terminate the depository agreements for them. Mechel had the option to appeal the NYSE ruling but did not exercise it, the exchange said at the end of December. Mechel is one of Russia's leaders by production volume of coking coal concentrate. The company controls over a quarter of Russia’s coking coal washing facilities. Mechel is one of Russia's largest producers of long rolls and hardware, as well as Russia’s largest and most diversified producer of specialty steels and alloys.Chelyabinsk Metallurgical PlantBeloretsk Metallurgical PlantIzhstalUrals Stampings PlantVyartsilya Metal Products PlantMechel NemunasBratsk Ferroalloy PlantSouthern Urals Nickel PlantKaslinsky Plant of Art Casting Mechel's metal trading network comprises over 80 branches including 18 service centers. It consists of a Russian company and subsidiaries in the CIS member states, Western and Eastern Europe. Russian businessman Mr Igor Zyuzin and members of his family control 51.54% of common shares in Mechel.
