The Financial Times said RusAl, the world's largest aluminum producer, could make this decision amid growing tensions between Russia and the U.K. and proposed tougher listing requirements in Britain.
The paper quoted a senior executive at Basic Element, the holding company of businessman Oleg Deripaska who holds a majority interest in RusAl, as saying that there was "a 95% chance" the company would now list in Hong Kong instead of London.
The executive who spoke on the condition of anonymity said investors in Hong Kong were more eager to buy Russian shares and added that tougher listing requirements on the LSE could be another reason for the decision.
The executive said the diplomatic row between the U.K. and Russia that has been raging ever since former Russian security officer Alexander Litvinenko was murdered in London in November 2006 was another reason for shifting the IPO to Hong Kong.
