Press Metal Aluminium: Scarce Cyclical Credit

APAC IPOs & Placements

Zhen Zhou, Toh

Smartkarma

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<p>Onexim is selling 456m shares of <a href="https://www.smartkarma.com/entities/8517" target="_blank" data-smartkarma-citation="entities:8517:1">United Co Rusal Plc (486 HK)</a> (Rusal). Post share sale, the shareholder will still hold about 3% of Rusal's total outstanding share.</p><p>The deal scores well on our framework due to its strong earnings and price momentum. This share sale can be considered a pseudo cleanup trade and expected since Onexim has been selling their stake since the start of this year. Rusal has a strong correlation with <a href="https://www.smartkarma.com/entities/6884" target="_blank" data-smartkarma-citation="entities:6884:1">Aluminum Corporation Of China Limited (2600 HK)</a> and its current ratio…</p>

Onexim is selling 456m shares of United Co Rusal Plc (486 HK) (Rusal). Post share sale, the shareholder will still hold about 3% of Rusal's total outstanding share.The deal scores well on our framework due to its strong earnings and price momentum. This share sale can be considered a pseudo cleanup trade and expected since Onexim has been selling their stake since the start of this year. Rusal has a strong correlation with Aluminum Corporation Of China Limited (2600 HK) and its current ratio…

United Co Rusal Placement - Aluminium Price to Remain High Due to China's Supply-Side Reform