Oleg Deripaska’s plans to float his UC Rusal aluminium group by the end of the year suffered a blow on Thursday after the Hong Kong Stock Exchange postponed a decision to approve it until Dec 3. But insiders insisted Rusal was still on track to start trading in Hong Kong and Paris by Dec 23 as planned, despite having to delay its official roadshow a week to Dec 7 for the IPO of up to 10% of the stock. News of the postponement came as the company scrambled to complete a restructuring of nearly $17bn in debts owed to more than 70 foreign and Russian creditors.

This entry was posted by Gwen Robinson on Friday, November 27th, 2009 at 4:53 and is filed under Capital markets, People. Tagged with UC Rusal. Edit this entry.