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updated: 8/30/2011 7:56 AM

Rusal will join two new hong kong stock exchange indexes

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Bloomberg News

United Co. Rusal, the largest aluminum producer, will join two new Hong Kong stock exchange indexes from Sept. 5, helping to expand its investor base.

Rusal will make up 10 percent of the Hang Seng Foreign Companies Composite Index and join the Global Composite Index, the Moscow-based company said today in an e-mailed statement.

The company is expanding its investor base and improving liquidity by entering additional Hang Seng indexes, said Oleg Mukhamedshin, Rusal's director for corporate development.

Prada SpA, Glencore International Plc and Vale SA will be among the other stocks joining the Foreign Companies Composite.

"The number of foreign companies listed in Hong Kong has been increasing rapidly in the past year," Vincent Kwan, director and general manager of Hang Seng Indexes Co., said in the statement. "The Hang Seng Foreign Companies Composite Index provides investors a convenient benchmark in monitoring the price performance of this group of companies."

Rusal's Russian depositary receipts were added to the 30- stock Micex Index in July after MSCI said RDRs aren't eligible for inclusion in the review of the MSCI Russia Index in May.