RUSAL IPO interesting to Asian investors
MOSCOW. Dec 8 (Interfax) - The IPO planned by aluminum giant UC RUSAL will be of interest to Asian investors, Arkady Dvorkovich, a Russian presidential aide, told reporters.
"There's a very decent interest among Asian investors. Many of them are saying they will buy," Dvorkovich said.
Demand for the asset will be highest in the Asian markets, he said.
Dvorkovich said the RUSAL IPO would be conducted on time, in accordance with the need for debt restructuring and company transparency.
"VEB's participation in the IPO - that is a normal placement of resources," he said. VEB is participating in a host of RUSAL projects in Eastern Siberia. By acquiring ownership rights in the company, it will reduce risks to those projects.
As for the possible participation of Sberbank Russia and VTB , Dvorkovich said the issue would be decided by the management committees of the two banks and would not be submitted to the supervisory boards. "I don't know whether Sberbank and VTB will take part in the IPO. If they do, it would not be in volumes large enough to require clearance from the supervisory boards," Dvorkovich said. Overall, he said, RUSAL "is an appealing asset."