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 had drawn up a compressed marketing plan that would see it launch an institutional roadshow today with the aim of having its shares start trading on December 23. That will not happen now and means...
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