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Monday, April 12, 2010

EAST ASIA: Russian Companies Follow Deripaska to Asia in Search of Cash

April 12, 2010, 6:07 PM EDT

By Yuriy Humber

April 13 (Bloomberg) -- Russian companies including VTB Group and OAO Polyus Gold are following Oleg Deripaska to Asia in search of cash, after the billionaire’s aluminum maker United Co. Rusal became the country’s first to list in Hong Kong.

Warming political ties between Russia and China, a 142 percent rally in Moscow’s Micex stock index since the start of last year and Rusal’s $2.24 billion share sale in January have combined to “pique interest” in Russia, said Chris Weafer, chief strategist at UralSib Financial Corp. in Moscow.

Polyus chief Evgeny Ivanov is among the dozens of . . .

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