RUSAL goes public in pursuit of $2.6 billion

–(– 01/05/2010 – IPOs industry news provided by Financial News USA. UC RUSAL plans to raise up to $2.6 billion in a landmark Hong Kong IPO next month and is betting on aluminum price growth to repay nearly $15 billion in debt and restore profits after a miserable first half of 2009.

The world’s largest aluminum maker on Thursday unveiled a 1,141-page prospectus for the first Russian share float in Hong Kong, detailing its finances in public for the first time and answering concerns related to billionaire owner Oleg Deripaska.

“The valuation appears to be very aggressive,” said Chris Weafer, chief strategist at Russian investment bank UralSib.

UC RUSAL is the jewel in the crown of Deripaska’s business empire and helped its majority owner to the head of Russia’s rich list before the economic crisis more than halved the value of the aluminum produced by its Siberian smelters.

UC RUSAL is offering 1.6 billion shares, or a stake of about 10 percent, in a range of HK$9.10 to HK$12.50. [Read the full article]

OBA Financial Services, Inc., the proposed holding company for OBA Bank, announced today that it expects to close its stock offering on Wednesday, January 6, 2010.

Shares of OBA Financial Services, Inc. common stock are expected to begin trading on Thursday, January 7, 2010, on the NASDAQ Capital Market under the symbol “OBAF.”  The stock offering will close at the adjusted maximum of the offering range.  OBA Financial Services, Inc. will sell 4,628,750 shares of common stock at $10.00 per share in its subscription offering.  

The Board of Directors, Officers and Employees of OBA Bank express their gratitude for the overwhelming support for the offering by their customers, pledge their best efforts toward the opportunities ahead, and look forward to serving the needs of their community, customers and new stockholders. [Read the full article]

China Valves Technology, Inc. (Nasdaq: CVVT) (“China Valves” or the “Company”), a leading metal valve manufacturer with operations in the People’s Republic of China
(the “PRC”), today announced that the Company has entered into definitive
agreements with certain accredited investors to sell in a registered direct
offering an aggregate of 2,414,113 shares of its common stock at a price of
$9.00 per share for gross proceeds of approximately $21.7 million. In
addition, the Company will issue at closing to the investors warrants to
purchase 362,116 shares of common stock, in the aggregate, at a price of $9.00
per share, exercisable for 30 days beginning on the date of the initial
issuance of the warrants. [Read the full article]

YRC Worldwide Inc. (Nasdaq: YRCW) announced today that it was successful with its previously announced debt-for-equity exchange offers having received tenders for approximately $470 million in par value, representing approximately 88% of the company’s outstanding notes, including $105 million, or 70%, of its 8 1/2% Notes, $217 million of its 5.0% Notes, and $148 million of its 3.375% Notes, representing 94% of aggregate total of the 5.0% and 3.375% Notes. Under the terms of the transaction the company will issue to tendering noteholders approximately 37 million shares of common stock and 4.346 million shares of Class A convertible preferred stock which, together on an as-if converted basis, will represent approximately 94% of the company’s total issued and outstanding common stock. [Read the full article] About Financial News USA

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