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. Last Updated: 07/27/2016

RusAl Listing is Off Indefinitely

RusAl has shelved a $9 billion IPO to float shares in London this year on concerns over a global liquidity crunch, two of the company's largest shareholders said Friday.

Nonexecutive chairman Viktor Vekselberg told reporters that the initial public offering would not take place this year. This was repeated by majority owner Oleg Deripaska in comments to Interfax.

"It will definitely not happen before year-end. The issue is still on the agenda," Vekselberg said on the sidelines of the Sochi investment forum. "The reason is obvious. All companies are reviewing timings of their flotations. The market is very volatile, and to take the risk without being sure the IPO will be successful does not make sense," he said.

Deripaska said the IPO would not take place before the end of 2007. "The IPO is on hold indefinitely due to market trends," he said, Interfax reported.