Evraz
EVRAZ plc () is a UK-incorporated multinational steel manufacturing and mining company part-owned by Russian oligarchs. It has operations mainly in Russia as well as the USA, Canada, and Kasakhstan. As of 2015, the ultimate beneficial owners were Russian oligarchs Roman Abramovich (31.03%), chairman Alexander Abramov (21.59%) and CEO Aleksandr Frolov (10.78%) with the remaining 36.6% shares owned by other shareholders. History. The company was founded as a small metal-trading business in 1992. On 2 June 2005 Evraz Group floated some 8.3 percent of its shares in the form of GDR in London. The company was priced  at $14.50 per GDR implying an equity value of $5.15 billion. An additional 6% stake was placed in January 2006, resulting in a total free-float of 14.3%. The company acquired Claymont Steel from H.I.G. Capital in 2008 for million. The mill was closed in December 2013. Sanctions. In the aftermath of the 2022 Russian invasion of Ukraine, the British government accused the company of "providing financial services or making available funds, economic resources, goods or technology that could contribute to destabilising Ukraine." After sanctions were applied to Abramovich, owner of 29% of the company, the Financial Conduct  Authority suspended the trading of Evraz shares on the London Stock Exchange. The non-executive members of the board subsequently resigned. Operations. Evraz sets aside its coal business by the end of the year 2021 on the premise of all needed approvals, according to the group's report of the 1st half of 2021. In the very beginning of 2021 EVRAZ announced expecting to spin off its coal division consolidated in Raspadskaya. In April 2021, the group's board of directors approved the demerger of its coal assets to be shared pro rata among Evraz shareholders. In January 2022, Evraz  shareholders also approved the demerger of the group's coal business, consolidated at PJSC "Raspadskaya" after the final decision made by the board of directors of Evraz last December. The business structure is as follows: Corporate structure. The company's interests in the majority of its subsidiaries are held indirectly through its ownership of Mastercroft. In June 2006, Evraz Group announced a transaction that resulted in the transfer to Greenlease International Holding of a 50% interest in Lanebrook Ltd., an entity controlled by the principal shareholders of Evraz Group. As of April 2015 Lanebrook Ltd. held 63.70% of the company 's shares, with the ultimate beneficial owners being Roman Abramovich (31.03%), chairman Alexander Abramov (21.59%) and CEO Aleksandr Frolov (10.78%). Carbon footprint. Evraz reported Total CO2e emissions (Direct + Indirect) for 31 December 2020 at 43,620 Kt (+280/+0.6% y-o-y).