The Russian producer of aluminum announced the re-registration — the company leaves the island of Jersey in national offshores. What will it give to RUSAL and as the market will react? Photo: Stanislav of Krasilnikov/TASS RUSAL comes back to Russia from the island of Jersey. The Russian producer of aluminum has distributed the message about a re-registration on the Hong Kong stock exchange. The English name full and the reduced names in Russian is noted that the company needs to agree with the authorities of Russia, stock exchanges and regulators, to change and also to bring documents into accord with the Russian legislation. Still the En Group group, as well as her largest asset RUSAL, have been registered on the British island of Jersey. At the beginning of June the Kommersant newspaper with reference to sources in the government specified that RUSAL considered the possibility of a re-registration in so-called internal offshores of Russky Island in Primorsky Krai and October in the Kaliningrad region. These two regions are mentioned in the document which has been distributed in Hong Kong. Business FM has talked about it to the director of group of the AKRA corporate ratings Maxim Hudalov: — It was the expected event. Earlier the Minister of Economic Development Maxim Oreshkin said that RUSAL will be re-registered at the beginning of October, but here now the beginning of November, that is, one may say, there was some delay? — Probably, there were some difficulties with the organization of the process of a re-registration because documents of the jurisdiction weren't finally ready. And before capital asset of the company of mister Deripaska has made the decision on a re-registration, said that power assets of the company are going to give for a re-registration to the Russian national offshores. Therefore transition of biggest RUSAL to this jurisdiction was the expected phenomenon, and the question was only in time of execution of this decision. — It is possible to say that there is no practice of such re-registration now? On RUSAL this mechanism will be fulfilled? — Actually yes, the company is a pioneer. But, on the other hand, and the similar unprecedented pressure upon the Russian companies for the present never turned out therefore in this sense the company is a pioneer as well as regarding hit under tough sanctions of the USA, and regarding a re-registration for the purpose of protection of property. — What will give to RUSAL "return" home where it can be as a result registered, still concrete region where can be more logically isn't called? — I think, after all the Kaliningrad region looks more logical. The company will become Russian, it is after all a little, in our opinion, will protect it from potential pressure in foreign jurisdictions. And as for the main problem — getting into the sanctions list of the Ministry of Finance of the USA — here this step will hardly help. But, on the other hand, we see that the American authorities, understanding all importance of the company and effect of the inflicted sanctions on a global environment of the markets, after all try д now
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