Rusal forced to delay Hong Kong IPO until 2010

The Hong Kong stock exchange wants more time to go through the listing documentation, sources say, leaving no room for the Russian aluminium giant to go public before year end.

Russian aluminium producer Rusal has been forced to postpone its planned initial public offering in Hong Kong until next year after sources said the Hong Kong stock exchange felt it needed more time to review the company's listing application. The IPO was expected to raise about $2 billion and include a listing in both Hong Kong and Paris.

Rusal had been hoping to secure a listing approval following its second hearing with the stock exchange's listing committee on Monday and...

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