Rusal to Expand Russian Investors With Issue Next Week
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United Co. Rusal, the world’s biggest aluminum producer, will make it easier for Russian investors to trade its international shares from next week, through the release of domestic depositary receipts.
OAO Sberbank will begin placing the Russian Depositary Receipts, the first of their kind, from Dec. 23, the bank said in an e-mailed statement today. The securities allow investors in Moscow to trade the foreign shares of Rusal, which raised $2.24 billion from a Hong Kong stock offering in January.