Rusal float set to earn millions for Rothschild January 3, 2010 RUSSIAN aluminium firm Rusal, owned by billionaire Oleg Deripaska, is planning a $2.6bn (£1.6bn) flotation this month, tipped to earn millions for merchant bank NM Rothschild, it emerged yesterday. Rusal will sell 1.61 billion shares at up to HK$12.50 (£1) a share to cut $14.9bn (£9.2bn) of debt in a float set to value Rusal [...]
Gold loses its shine as positive US data signals move away from safety December 21, 2009 NOW could be the time to go short on gold. After a stellar performance during 2010 when the precious metal reached a record high of more than $1,200, the positive trend could be about to come to an end. Investors sold off gold futures yesterday as markets await a spate of economic data releases from [...]
Rusal IPO ignores retail investors December 21, 2009 The Hong Kong regulator has imposed unusual restrictions on private investor participation in the $2bn (£1.2bn) flotation of UC Rusal on the Hong Kong stock market, the first IPO by a Russian company in the city. The Securities and Futures Commission has insisted on a minimum entry level of HK$1m for those wishing to take [...]
Spyker Cars tables renewed offer for GM’s Saab marque December 21, 2009 Dutch luxury carmaker Spyker Cars yesterday submitted a new offer to fast-track a buyout of Saab from General Motors, two days after last-ditch talks to rescue the Swedish manufacturer collapsed. GM said on Friday it would start shutting down the loss-making firm after talks with Spyker ended. The move to abandon the 60-year-old Swedish auto [...]
Deripaska’s Rusal heads for Hong Kong and Paris listings December 17, 2009 UC Rusal, the world’s largest aluminium producer controlled by billionaire Oleg Deripaska, is moving closer to securing its $2bn (£1.2bn) stock listing. The company, which is planning to list 10 per cent of its shares in Hong Kong and Paris, is understood to be finalising a massive debt restructuring, which will help pave the way [...]
Russian oil explorer Exillon Energy to raise £62m in rare London flotation December 14, 2009 OIL explorer Exillon Energy is to raise about £62m in the first London stock market flotation by a Russian company since the financial crisis began. Exillon, which has operations in the Western Siberia and Komi regions of northern Russia, plans to place 40.5 million shares at 153p each. The IPO represents just under a third [...]
FOOD & BOOZE NEWS December 14, 2009 DEAN STREET TOWNHOUSE OPENS There’s a new place to go to in Soho, from the people behind Soho House. Dean Street Townhouse is a chic little boutique hotel with a restaurant overseen by The Ivy’s former senior sous chef, Stephen Tonkin. There’s an old school British sensibility with oysters, fish and chips and mince with [...]
Haye trainer has no fear from Klitschko defence December 14, 2009 DAVID HAYE’S trainer Adam Booth is confident he has hatched a plan to beat Vitali Klitschko after the Ukrainian retained his WBC heavyweight title in Berne, Switzerland, on Saturday night. Klitschko condemned American Kevin Johnson to his first defeat with a unanimous points victory but his laboured performance failed to impress Booth. “It was a [...]
CITY MOVES | WHO’S SWITCHING JOBS December 13, 2009 RBC Wealth Management RBC Wealth Management has hired Shervin Mellegard, Samuel Palmer and Neil Jeffries as a managing director, director and wealth manager respectively in the UK domestic team. Mellegard, pictured, has over 20 years of experience in financial services, with his career having spanned commodities futures and securities trading at Merrill Lynch to private [...]
MORE DELAYS FOR DERIPASKA December 7, 2009 RUSAL, the world’s leading aluminium producer that is controlled by Russian tycoon Oleg Deripaska, will delay its long-awaited $3bn (£1.8bn) IPO until next year, after the Hong Kong Stock Exchange asked it to meet certain undisclosed conditions. The delay is another blow to Deripaska’s long-held aim of floating the business.