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Stock quotations of RUSAl are growing in price to record values

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Stock quotations of RUSAl are growing in price to record values
September 20
12:00 2017

The morning of Wednesday will be remembered by investors due to the unprecedented growth of the shares of RUSAl. The stock price jumped by 7.5% within several hours, updating the highs in the history of trading.

The reason for such an impressive growth was the news about the purchase of 5% of the company En + Group (the main shareholder of RUSAl) by the Chinese oil and gas company CEFC China Energy. The acquisition may occur during the planned En + Group IPO. This holding belongs to Oleg Deripaska. It is the main shareholder of RUSAl, one of the most significant aluminum producers in the world.

It became known that yesterday Deutsche Bank had corrected the forecast concerning the shares of the company RUSAl. The new value is 4.3 Hong Kong dollar per share (the previous value is 3.38 HK$ per share). The forecast, made by the analysts of investment banks, shows a slightly more optimistic figure – 6.73 HK$ per share.

The shares of RUSAl are traded on the Moscow stock exchange. Today the price used to rise to 45.48 rubles per share but then there was a correction to the mark of 45.2 rubles per share. The total amount of transactions for a part of Wednesday was just under one billion rubles.

The material was prepared with the participation of Andrey Majorov,
a leading analyst of the brokerage company CT Trade

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