Rusal Plans to List Shares in Hong Kong, Sunday Times Says

Sept. 27 (Bloomberg) -- United Co. Rusal’s directors will this week approve an initial public offering, valuing the Russian aluminum company controlled by billionaire Oleg Deripaska at $30 billion, the Sunday Times reported, without saying how it obtained the information. Rusal will probably opt to list its stock in Hong Kong, selling 10 percent of its shares, the newspaper said. The company’s banks have agreed to restructure its $16 billion of debt, spreading payments over four years in exchange for 5 percent of its equity, according to Sunday Times.