Rusal, in dual listing, seeks HK approval this month

Published: 04 Nov 2009 00:43:04 PST

HONG KONG, Nov 4 - Russian aluminium giant UC RUSAL will seek Hong Kong listing committee approval this month, sources with direct knowledge of the deal said on Wednesday, hoping to raise around $2 billion through a dual listing.

RUSAL also plans to list in Euronext Paris as well, said the sources, who were not authorised to speak publicly about the offering. The primary listing would occur in Hong Kong, the secondary listing in Paris, the sources said.

RUSAL hopes to begin trading in December, though the IPO is contingent on progress with its debt restructuring, set to conclude by mid-November, the sources said.

RUSAL could not immediately be reached for comment.