Sidley Austin and Cleary Gottlieb Steen & Hamilton advised Russian aluminum maker UC RUSAL on its controversial Hong Kong initial public offering, which made its market debut Wednesday. The RUSAL IPO marks the first time a non-Asian company has chosen to have its primary listing in Hong Kong, with a secondary listing in Paris.
The fully subscribed IPO raised about $2.24 billion before its opening but dropped almost 11 percent in its first day of trading in Hong Kong. Most market watchers blamed the drop on skittishness over tightening Chinese monetary policy.
This content has been archived. It is available through our partners, LexisNexis® and Bloomberg Law.
To view this content, please continue to their sites.
LexisNexis® and Bloomberg Law are third party online distributors of the broad collection of current and archived versions of ALM's legal news publications. LexisNexis® and Bloomberg Law customers are able to access and use ALM's content, including content from the National Law Journal, The American Lawyer, Legaltech News, The New York Law Journal, and Corporate Counsel, as well as other sources of legal information.
For questions call 1-877-256-2472 or contact us at [email protected]