China intends to invest $300 mln in RusAl
China Investment Corporation is considering the purchase of shares in Russia`s aluminum giant RusAl worth $300 million, the Zhongguo Wang news service said on Tuesday.
Hong Kong Securities and Futures Commission allowed in December RusAl`s $2.5 billion initial public offering to be held on the Asian trading floor on condition that the world`s largest aluminum producer would not sell its shares to individual investors. Earlier, RusAl`s IPO was allowed by the Hong Kong Stock Exchange.
RusAl, which accounts for 11% of global aluminum and 13% of alumina production, earlier announced plans to sell about 10% of its shares on the Hong Kong and Paris-based Euronext stock exchanges at the end of 2009.
Bloomberg said on Tuesday Nathaniel Rothschild`s private investment company might also buy shares in Rusal`s Hong Kong IPO.
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