Billionaire Oleg Deripaska , who listed his United Co. Rusal in Hong Kong this year, says the city is Russia’s best chance to tap into Asian economic growth. Investors, who have watched debt-laden Rusal slump, are yet to be persuaded.
Olympus Corp.’s 2009 sale of its profitable diagnostics unit may have undermined efforts to expand into health care as the company sought cash to shore up a balance sheet that was hiding decades of losses.
Strikeforce Mining & Resources Plc and Swire Properties Ltd. may not be alone in delaying initial public offerings in Hong Kong after the Hang Sang Index posted its biggest weekly drop since November, according to Fulbright Securities Ltd. and Louis Capital Markets HK Ltd.
United Co. Rusal’s Oleg Deripaska is wedded to an investment that barely covers borrowing costs, has brought management into conflict and added to losses for stockholders such as billionaire Li Ka-shing and Paulson & Co.
Prudential Plc said the collapse of its $35.5 billion takeover of American International Group Inc.’s main Asian unit will cost it about 450 million pounds ($660 million). The failure may also cost Chief Executive Officer Tidjane Thiam his job.
AIA Group Ltd., the main Asia unit of American International Group Inc. , submitted preliminary documents to the Hong Kong Stock Exchange for an initial public offering, according to two people familiar with the filing.
Prudential Plc , which aborted the largest acquisition in its 162-year history, doesn’t plan to revive its bid to buy the main Asian unit of American International Group Inc. , it said in an e-mail today.