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Sual’s stake in Rusal essentially unchanged, reduction is technical in nature

Sual Partners is Rusal's largest minority shareholder

MOSCOW, February 12. /TASS/. The reduction of Sual's stake in Rusal’s authorized capital from 25.09% to 22.249% is technical in nature and does not signify a change in the scope of shareholder rights. an official representative of Sual Partners told TASS.

"This is a technical action. The stake has not changed," he said.

Earlier, the Russian aluminum company Rusal published a statement on the Hong Kong Stock Exchange announcing the ownership structure change effective December 23, 2025.

Prior to that date, Sual held 3,812,333,405 votes representing the issuer's voting shares (25.09267%). Following the shareholding reduction, this figure dropped to 3,380,333,405 votes (22.249% of the authorized capital).

Rusal is the largest aluminum producer outside of China and the only primary aluminum producer in Russia. Rusal's largest shareholder, with a 56.88% stake, is En+ Holding, founded by Oleg Deripaska. Sual Partners is Rusal's largest minority shareholder.

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