RusAl aluminum producer set for IPO in November

The United Company Russian Aluminum (RusAl), the world's biggest aluminum producer, will hold an initial public offering (IPO) in November, the chairman of the company's board of directors said Tuesday.

Viktor Vekselberg said the United Company Russian Aluminum, which was formed in March 2007 following the merger of Russia's aluminum giants RusAl, SUAL, and the alumina assets of Swiss-based Glencore, would specify its IPO parameters in August-September.

Vekselberg said the volume of shares to be floated was not a major issue for the company, which accounts for 12.5% of world aluminum and alumina output.

"The main thing for us is to become a publicly listed company," he told a business forum in Moscow.