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Rusal falls more than 10% in Hong Kong debut
Wed, 08 Feb, 2012
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Rusal falls more than 10% in Hong Kong debut
Wed, 27 Jan 2010, 15:06:00
The first Russian company to launch a primary listing in Hong Kong saw its shares drop more than 10% on its first day of trading. Shares of aluminum producer <b>United Co. Rusal</b> ended its debut session down 11% at HK$9.66 compared with the initial public offering price of HK$10.80 a share. The performance comes as a blow for Hong Kong, which had bent over backwards to allow Rusal to list on its market. Rusal raised more than $2bn through the IPO and said it will use the cash to reduce debt.
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