Rusal IPO Questions LSE's IPO Supremacy

Choosing the highly indebted Rusal as its first IPO by a foreign company was always going to be a risky bet on the part of the Hong Kong Stock Exchange: sure enough, Rusal's trading debut, which saw a 10.6% fall in the first day of trading, turned out to be the 10th worst on the Hong Kong stock exchange since 2008. This could partially be ascribed to bad timing, given the damage done by expectations of Chinese tightening on the Hang Seng. Nevermind, the IPO itself was fairly successful in raising US$2.24bn in the middle of the HK$9.1-12.5 indicative range,

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