Rusal Sets IPO Range, Valuation Exceeds Alcoa, Vedomosti Says

Dec. 25 (Bloomberg) -- United Co. Rusal, Oleg Deripaska’s aluminum maker, will seek to sell shares at a price that values the company at between $16 billion to $22 billion, Vedomosti said, citing unidentifed people familiar with the matter.

Rusal expects the final price of Russia’s first initial public offering in Hong Kong to value the Moscow-based company at $20 billion, more than U.S. rival Alcoa Inc.’s $15.9 billion, the Russian newspaper said today.

Blackrock Inc. and China Investment Corp. are among the investors who plan to buy shares in the IPO, which is slated to be completed by Jan. 20, Vedomosti said.

To contact the reporter on this story: Denis Maternovsky in Moscow at dmaternovsky@bloomberg.net

To contact the editor responsible for this story: Brad Cook at bcook7@bloomberg.net