29 January 2004 01:35
RusAl still targeting IPO in 2007
MOSCOW. Jan 29 (Interfax) - Russian aluminum giant RusAl still intends to launch an IPO to raise "affordable
financing" for new projects in 2007, but the offering could be put back if better alternatives are found, western
media reports quoted Alexander Boulygine, the company's chief executive, as saying.
The IPO "could be in 2006, it could be in 2008," depending on the state of the market, Boulygine said
during a telephone press conference.
Analysts think RusAl's capitalization will be approximately $6 billion after the IPO.
Boulygine said RusAl would finance its growing business with Eurobonds in the year leading to the IPO.
RusAl's press office told Interfax it could not shed any more light on the IPO plans and suggested that the
western press reports be used for now.
"The telephone conference was for journalists from foreign publications. RusAl management will meet with Russian
media representatives later, and we will make the announcement in due course," Vera Kurochkina, RusAl's
spokeswoman, said.
RusAl is one of the world's top-three aluminum companies. It raised primary aluminum output 4.3% to 2.59 million
tonnes and sales 12% to $4.5 billion in 2003. [RU ASIA EUROPE EEU EMRG MET ALU ECI RESF EUB IPO STX RESF] pr
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