Reuters reported that UC RUSAL will seek Hong Kong listing committee approval this month.

Sources with direct knowledge of the deal said that the debt burdened Russian company aims to raises about USD 2 billion through a dual listing in Hong Kong and Europe.

The sources said that RUSAL also planned to list on Euronext Paris. The primary listing would take place in Hong Kong and the secondary listing in Paris. RUSAL, controlled by Russian tycoon Mr Oleg Deripaska aimed to obtain listing approval in Hong Kong on November 26th 2009 and to make its trading debut in December, although the IPO was contingent on progress with its debt restructuring.

One sources said that “The debt restructing is an important milestone for RUSAL to proceed with its IPO.”

A spokeswoman for the company said that the restructuring would be completed soon but would not comment directly on the IPO plan.

(Sourced from Reuters)