Speculation mounts that UC RUSAL is preparing for IPO

There's a spate of speculation around this morning that UC RUSAL - the giant aluminium producer created from the merger of RusAl and SUAL and the aluminium interests of Swiss trade house Glencore - is laying the groundwork for an initial public offering of its stock on the London market later this year. The company's official line is that it will seek an IPO within three years of its creation but the likes of the Financial Times are this morning reporting that it is close to appointing a group of investment banks to manage the IPO. Citing the usual "people familiar with the matter", the FT claims that UC RUSAL is considering a sale of 25%, which could raise as much as $9 billion.