Rusal yesterday's deadline for subscription offers to be clarified

January 22 News, the deadline for the subscription of Rusal yesterday, suddenly issued a notice last night that the contents of the prospectus is wrong, to be clarified.　　But the company believes that the error is not significant, no misleading elements. According to Hong Kong media reports, the first Hong Kong-listed Russian company Rusal (0486), officially cut-off international placements. For many Russian companies, Rusal is the touchstone for listing in Hong Kong, success or failure has great enlightenment. The world's longest railway network operator, the Russian Railway (Russian Railways), will split its subsidiaries into "non-nationalisation" reforms, with two of its subsidiaries, trans container and freight, listed at the end of the year, intending to choose either Hong Kong or London as the venue for overseas listings.　　Russian railway management said it would assess the experience of Rusal's listing in Hong Kong in detail. Other Russian companies are interested in coming to Hong Kong for listing, but after a lot of turmoil and yesterday's deadline, Rusal suddenly issued a notice that the contents of the prospectus were wrong and should be clarified. Including net debt and Adjusted EBITDA should be -46.6:1, the original 46.6:1, its 08 share of the global aluminum market should be 11%, the original 12%, the December 09 debt restructuring of the net estimated income should be 1.067 billion United States dollars, the original error written as 1067 United States dollars. The age of directors, the number of shares held by major shareholders, and the remuneration of directors also appear to be mistaken.　　But the company believes that the error is not significant, no misleading elements. Novikov, president of the Russian railway, said that the Group Supervision Committee passed the end of last year to introduce private shareholders to its 35 subsidiaries, among which several will be listed, the first to be listed is trans containers and freight one, whose business is mainly related to freight.　　Two companies are expected to go public by the end of this year, and the parent company is set to set aside about a 51% stake in both, selling about a 50% stake in freight. The two companies will raise about 27 billion Trans containers had introduced a strategic investor to hold 15% per cent as early as 08, so the shares could be sold at around 35%. Novikov estimated that Trans container would raise $1 billion (HK $7.8 billion), Freight one would raise about 2.5 billion dollars (or $19.5 billion) and two would raise a total of HK $27.3 billion.　　However, the amount of funds to be collected from February to March will be submitted to the parent company Supervision Committee for approval before formal recruitment is made. Both will be listed on both sides of the list, in addition to the listing in Moscow, will also choose an overseas exchange listing. Noviko refers to the "Anglo-Saxon" (Saxon) regulatory system of exchanges, such as London and Hong Kong. As for the choice of the two, he said that in order to make a detailed assessment of the RUSAL listing, "Hong Kong is a potential market, but there has been no precedent for the listing of Russian companies before, Rusal is the first case, we must carefully analysis (to Hong KongThe advantages and disadvantages of the city, to our government and investors. He said many companies have abandoned the United States to the London listing because of the LAX laws in London. As for the Hong Kong market, in recent years almost exclusively is a Chinese-related company, "The significance of Rusal's coming to Hong Kong is that a company that has nothing to do with China has succeeded in raising funds here." London also has a lot of listed companies, and the business has nothing to do with London at all. "he said.