Aeroflot Finance LLC has announced it has successfully disposed of 53.7 million quasi-treasury shares equivalent to a 4.84% stake in parent firm, Aeroflot (SU, Moscow Sheremetyevo).
The Russian carrier said in a statement the disposal had raised approximately RUB9.8 billion (USD168.4 million) to be used for general corporate purposes. Goldman Sachs International and J.P. Morgan Securities plc acted as joint global coordinators and joint bookrunners. The buyers were only identified as including "a wide range of international investors from the UK and continental Europe, as well as Russian investment funds".
"The number of orders received by the banks for Aeroflot shares significantly exceeded our expectations," Shamil Kurmashov, PJSC Aeroflot Deputy CEO for Commerce and Finance, said. "We were pleased to see such high levels of attention and interest from international and Russian investors in Aeroflot’s investment case. Investors who placed orders for our shares included both current institutional investor shareholders as well as new funds seeking to buy into our capital."
Following the completion of the sale, PJSC Aeroflot's free float is now 45.8%.
