UC RUSAL Shares Down 28% at Hong Kong Exchange

17 April 2018 (09:24)

UrBC,Moscow, April 17, 2018. UC RUSAL, recently sanctioned by the U.S., lost 28.43% of its share value at Hong Kong Exchange.

According to Kommersant, the price dropped down to HKD 1.46 per share by 9:55 AM Moscow time. This is the all-time low since the day the shares were first listed at Hong Kong Exchange back in 2010.

The share price first went down to HKD 1.63 by 6:05 AM Moscow time (-20.1%). Up till now, the lowest price points were HKD 2.09 on June 12, 2016, HKD 2.13 on January 17, 2016, and HKD 2.19 on November 17, 2013.

The United States imposed sanctions on a number of Russian entrepreneurs and the companies these businesspeople control as well as on some high-profile Russian government officials and top managers on April 6, 2018. For one, the billionaire Oleg Deripaska and UC RUSAL (in which he owns a 48.13% stake) got on the sanctions list.

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