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Russian Aluminum to hold IPO in London

Tuesday, Oct 10, 2006
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RBC, 09.10.2006, Moscow 16:03:26.The company consolidating RUSAL, SUAL (Siberian Ural Aluminum Company) and Glencore International AG will hold an IPO on the London Stock Exchange within 18 months following the merger, President of SUAL Holding Viktor Vekselberg said at a press conference. The consolidated company may float up to 20 percent through the IPO, but no final decision has been made so far, Vekselberg elaborated.

Russian Aluminum, for this would be the resulting company's name, will invest from $3bn to $3.5bn within the coming 5 years, RUSAL's General Director Alexander Bulygin said. Furthermore, its annual production capacity will be expanded to 5m tonnes of primary aluminum within 3.5 years to come.

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