Aeroflot lands equity raise with strong government support

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By Sam Kerr
27 Oct 2020

Russian airline Aeroflot completed its Rb80bn ($1.05bn) capital raise on Monday, aimed at repairing its balance sheet by repaying debt, with the Russian state increasing its stake in the carrier.

VTB Capital was sole global co-ordinator on the deal, with the airline placing 1.33bn new shares at Rb60 each.

The first phase of the deal was a pre-emptive rights issue, which opened on September 21 and ran through to October 1.

After that came an institutional bookbuild, which started ...

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