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UC Rusal Files Initial Paperwork for Hong Kong IPO

Posted Mon, 26/10/2009 - 23:39 by Invest-IQ Team

United Company Rusal, the Russian aluminum producer based in Moscow, has filed A1 paperwork in Hong Kong to begin the process of listing on the Hong Kong Stock Exchange. If the IPO goes through Rusal would become the first Russian company to list on the exchange, whose listing companies have raised USD 13 billion USD so far this year. Rusal’s controlling shareholder, Oleg Deripaska, seeks to offer investors up to a 10% stake of the company in order to satisfy more than USD 14 billion in outstanding debt.

United Company Rusal (www.rusal.com)
UC Rusal was formed in 2007 from a merger between RUSAL, SUAL, and certain assets of Glencore. The company leads the world in producing a combined 24% of the global output of aluminum and alumina products at 15.6 million tonnes annually.

UC Rusal shareholders include En+ Group, ONEXIM, Amokenga Holdings, and previous SUAL shareholders.

The company employs 75,000 people in 19 countries through a network of mines, smelters, refineries, foil mills, and aluminum, cryolite, and cathode plants.