Deripaska: RUSAL has good cash flow; no hurry on IPO - FT
LONDON. Dec 4 (Interfax) - United Company RUSAL (UC RUSAL) "has good cash flow" and it will be "no problem" if a planned IPO is delayed until next year, RUSAL's chief owner and CEO, Oleg Deripaska, told the Financial Times.
RUSAL plans to offer 10% of shares in Hong Kong and Paris this month. However, the Hong Kong Stock Exchange will only rule on RUSAL's listing next week, leaving barely two weeks to finalize IPO preparations before the Christmas holidays.
RUSAL's creditors are not demanding that the IPO be held before the end of the year, Deripaska told the Financial Times. He did not comment further on the IPO because of listing rules.
The Dubai World situation will not affect investor sentiment toward RUSAL, he said.
He also said that the suit brought by Mikhail Cherney seeking 13.2% of RUSAL shares does not represent a risk to the company or potential share buyers.
"First it is crap. Second it is nothing to do with the company," Deripaska said, according to the Financial Times.