Russian duo cut stake in UC Rusal

Through an aftermarket block sale, Russian tycoons Mikhail Prokhorov and Viktor Vekselberg raised $315 million through selling a 3% stake in UC Rusal – an uncommon name in Hong Kong’s ECM market.

Russian duo cut stake in UC Rusal

Hong Kong’s equity capital market welcomed an unusual guest on Tuesday after two UC Rusal shareholders sold a block of shares in the Russian aluminum producer for HK$2.5 billion $315 million via an accelerated bookbuild.

The Reg S144A deal marks only the second capital market transaction for the Russian company since it was listed in Hong Kong in 2009.

In February this year, Russian tycoon Mikhail Prokhorov best known...

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