Rusal-linked warrants to start trading
The first derivative warrants linked to the share price of Russian aluminium producer Rusal will be traded on January 31. Rusal, which went public in January last year, drew concerns from the securities regulator because of its high debt levels. Retail investors were initially barred from trading the shares, but those restrictions were lifted in August when the board lot was cut from 24,000 to 6,000. The minimum board lot will cost HK$2,500. The warrants are issued by Bank of China International, Macquarie and Rabobank.