UC Rusal propose to transfer IPO to Hong Kong from London

Jan. 23—UC Rusal proposes to transfer the $9b IPO to Hong Kong from London Stock Exchange, the reason is that Russia and UK relationship is getting worse and UK will carry out stricter listed rule. A senior officer of Basic Element said the possibility they list in Hong Kong but not London is 95%. Basic Element is holding by Oleg Deripaska, own 66% of Rusal’s shares. The officer also said that compare to London, Hong Kong investor is more expect to get Rusal’s stock.