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Rusal shares slump by 30% on Moscow Exchange amid possible technical default reports

April 09, 10:40 UTC+3

The company reported a possible technical default on certain types of debt obligations due to the introduction of new US sanctions

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© Stanislav Krasilnikov/TASS

MOSCOW, April 9. /TASS/. The shares of Rusal slumped by 30% at the opening of trading on the Moscow Stock Exchange to 19.8 rubles ($0.3) per share, after the company reported a possible technical default on certain types of debt obligations due to introduction of the US sanctions.

According to the trading data, the maximum decline in the company's shares was 46.9%, to 15.04 ruble per security.

Global depository receipts of Deripaska's EN + Group plummeted by 20% at the opening of trading on the Moscow Stock Exchange after the introduction of US sanctions.

The maximum decline of the company's GDRs was 22.9% to 450 rubles ($7.7) per security, trading data shows. 

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