Following in Rusal's footsteps

When Rusal raised HK$17.4 billion $2.24 billion through its initial public offering in Hong Kong back in January 2010, some pundits predicted that it would be the first of many Russian resources companies to list on the city’s stock exchange.

Foreign retailers such as Prada and Samsonite have followed in Rusal’s footsteps, but the influx of Russians has yet to materialise. That could be set to change soon. Russian companies are holding off listings worldwide at the moment as they take a wait-and-see view ahead of elections slated for December this year and March 2012, according to Jivko Savov, deputy CEO of capital markets and business development for En...