Rusal intends to be listed in London
Rusal President Oleg Mukhamedshin (Oleg Mukhamedshin) said that the company is not yet sure whether the listing in London, the specific operation depends on the outcome of the British negotiations to get rid of europe.
Rusal is the world's second largest aluminum processing enterprise following China's grand bridge.
Informed sources told Reuters in June. The company plans to withdraw from Paris and seek a listing in London with a view to improving its stock turnover.
At the Russian Aluminum Investment Summit on Tuesday, Russian President Mukhamedshin said in an interview with Reuters that, at present, Rusal will remain in Paris. Because, according to the EU's single passport rule (passporting system), for the moment to maintain the status quo, the company is more favorable.
At present, the company is paying close attention to the British negotiations on the European Union, in case the British withdrawal from Europe in March 2019 has resulted in changes in the passporting system rules.
"That's why we haven't made a decision yet," he said. "All the risks, including Britain, should be taken into account."."
The circulation of shares issued by Rusal accounts for 13% of the total share capital. Muhammad reiterated that the recent improvement in global stock prices, August, Rusal's global stock average daily trading volume reached $20 million, compared with the previous 300 daily $4 million increase.
En+ Group has a 48% stake in Rusal, which plans to make its initial public offerings in London this year and is likely to sell shares to China Huaxin energy. Relevant insider told Reuters.
Last month, a Russian Aluminum equity Limited by Share Ltd announced by Glencore aluminum prices positive impact, a substantial increase in the revenue of the company.
Muhammad reiterated that the next dividend payments may be in the first quarter of 2018.
About the company's development projects, Muhammad Shen said that Russia is currently on the aluminum Taishet aluminum smelter to Russia's state-owned development bank, the banks about 800 million yuan financing, is expected next spring will restart.
Siberia tayshet aluminum smelter in the first production line is expected to be completed in 2020, the annual production capacity of 430 thousand tons. Another Boguchansk smelter in Siberia is expected to increase its annual capacity by two times to 300 thousand tons by the end of 2018.
Whether to further expand aluminum production is still affected by the market.
Muhammad reiterated that the aluminum price is up 23% this year, the market shortage of aluminum increased. Aluminum shortages in the global market are expected to rise from 1 million 100 thousand tons this year to 1 million 900 thousand tons in 2018.