3 April 2015, 00:00
UC RUSAL (SEHK: 486, Euronext: RUSAL/RUAL, Moscow Exchange: RUALR), a leading global aluminium producer, announces that today, the Company’s ordinary shares have been admitted to the Moscow Exchange (MOEX) in the First Level quotation list. The trading of the Company’s shares on the MOEX is expected to commence on 30 March 2015 (stock code: RUAL).
The decision to proceed with a direct listing has been made in order to create a technical platform for trading the Company’s shares on the Russian exchange. A direct listing on MOEX is an opportunity to extend RUSAL’s investor base. In particular, it will allow local and international investors that have an investment policy which does not allow them to invest in Russian Depositary Receipts (RDRs), to trade the Company’s shares.
‘Admission of the Company’s ordinary shares to the MOEX in addition to the company’s RDRs provides both our current as well as potential investors with additional opportunities, as they will now have access to a full set of instruments. Listing on the MOEX will link the stock markets of Hong Kong and Moscow; the infrastructure to allow free movement of shares between the two markets has been created,’ commented Oleg Mukhamedshin, RUSAL’s Director for Strategy, Business Development and Financial Markets.
‘The listing of RUSAL’s shares on MOEX will improve liquidity and broaden the company's investor base. Listing ordinary shares will particularly benefit those market participants who are unable to trade Russian Depositary Receipts and those who prefer direct exposure of companies via ownership of original shares.
‘Thanks to reforms implemented on the Russian financial market in recent years, we see a trend of more foreign issuers with Russian assets listing on MOEX. RUSAL is the seventh such issuer, and we are delighted to welcome them to our market,’ commented Alexander Afanasiev, CEO of Moscow Exchange.
There will be no issue of new Company shares under the Direct Listing Program. RUSAL’s RDRs issued on common shares of the Company will continue to be traded on MOEX.
RUSAL’s Board of Directors approved key parameters of the direct listing programme in 2013.