- Write by:
-
Monday, November 22, 2021 - 10:46:58
-
959 Visit
-
Print
Mining News Pro - Hong Kong’s stock market regulators are examining plans by Russian aluminium producer Rusal to spin off its high-carbon smelters and refineries into a separate company that will be listed in Moscow, the Financial Times reported on Sunday.
The decision to investigate the proposed demerger was set into motion by a complaint from Odey Asset Management, the report said, citing emails seen by the FT.
The London-based hedge fund believes a recent agreement involving Rusal’s two biggest shareholders means they should not be allowed to vote, the newspaper said.
Rusal said it was not aware of any investigation by the regulator, Hong Kong Exchanges and Clearing.
“We have not to date published any information concerning voting arrangements concerning any general meetings to be held,” a Rusal representative told Reuters.
Hong Kong-listed Rusal said in May that it would demerge its higher carbon assets into a separate company as part of its goal to achieve carbon neutrality by 2050 and will change its own name to AL+ as part of the process.
It was expected to complete the demerger process in the second half of 2022, its largest shareholder EN+ Group said on Nov. 1.
Hong Kong Exchanges and Clearing did not immediately respond to Reuters’ request for comment.
Short Link:
https://www.miningnews.ir/En/News/617118
The Philippines said on Friday it aimed to add three more processing plants in the effort to develop a downstream ...
London-based Savannah Resources will if necessary ask Portugal’s government to authorize compulsory land acquisitions ...
India is considering offering incentives to encourage private companies to set up lithium processing facilities, as New ...
The secretary-general of the International Seabed Authority is set to run for a third term leading the United ...
Belgium’s Nyrstar is reactivating the Budel zinc smelter in the Netherlands after a four-month period of care and ...
Adani Enterprises Ltd., which posted a 38% fall in quarterly profit, said India’s markets regulator has queried it about ...
The US and the Philippines are in discussions over ways to prevent China from dominating nickel processing in the ...
Glencore expects profit at its trading division this year to be at the top end of its long-term annual guidance, in an ...
BHP Group Ltd.’s proposal for a $39 billion takeover of rival Anglo American Plc is all about securing plenty of copper ...
No comments have been posted yet ...