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The Moscow Exchange switched trade in Mechel’s shares into a discreet auction mode at 10.57 a.m. Moscow time as the share price was seeing about 20% decline during ten minutes in a row.
“Trade of the mentioned above securities are not conducted in the Classica sector of the market between 10.57 a.m. and 11.27 a.m. in correspondence with the bids directed to all market participants,” the exchange said.
At 11.10 a.m., Mechel’s shares decreased 18.3% to 22.3 rubles ($0.6) , while the previous maximum decrease on Tuesday reached 24.9%.