Aluminum giant Rusal to use IPO funds to pay down debt

12/31/2009 | Bloomberg

United Company Rusal, the world's largest aluminum producer, aims to bring in as much as $2.6 billion with its initial public offering in Hong Kong. Much of the money would be used to pay down $14.9 billion in debt. The Russian company said in a filing with Hong Kong's stock exchange that it is offering 10.6% ownership in the form of shares and global depository receipts.

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