Uralkali, the Russian fertiliser maker that pulled plans for its flotation this time last year, has relaunched its share sale at half its original price in an opportunistic move aimed at attracting would-be investors in aluminium maker Rusal's cancelled $9bn (€6.4bn) offering, according to a senior equities stategist.

Uralkali has slashed its float from an potential $1.5bn last year to $700m, following concerns that the sale was priced too expensively and could not gather enough interest. UBS, Citigroup and Renaissance Capital will co-ordinate the listing.