RusAl Aluminum ETF Talks

April 22, 2010

United Company RusAl said Wednesday that it was in talks to supply metal to banks for possible exchange-traded funds that would be backed by the commodity.

“We’re interested in supporting new channels of demand for the metal,” Oleg Mukhamedshin, RusAl’s deputy chief executive and head of capital markets, said in an interview.

RusAl is also in talks with three Russian investment banks about listing depositary receipts in Moscow, Mukhamedshin said, adding that it was likely to happen this year.

(Bloomberg)

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