John Paulson Makes Huge Bet On IPO Of Russian aluminium Firm Rusal

The temptation of Russia, it’s just too great, regardless of how often folks get burned there.

John Paulson is reportedly a “cornerstone” investor in Rusal, the Russian aluminium giant that’s set to IPO in Hong Kong next month.

Other investors include Malaysian Billionaire Robert Kuok and Nathaniel Rothschild, according to Bloomberg.

Billionaire Oleg Deripaska is trying to secure investors for the IPO, which will make Rusal, the world’s largest aluminium producer, the first Russian company to list in Hong Kong. Vnesheconombank may buy as much as a 3 per cent stake, while other state-run lenders also may buy Rusal shares.

BlackRock Inc., the world’s largest asset manager, has expressed interest in buying shares in the offering, though it wouldn’t invest as a cornerstone, one of the people said.

Business Insider Emails & Alerts

Site highlights each day to your inbox.

Follow Business Insider Australia on Facebook, Twitter, LinkedIn, and Instagram.