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Aeroflot announces next stage of share capital increase; aims to raise at least RUB 80 billion
2 October 2020, Moscow. – PJSC Aeroflot (Moscow Exchange ticker: AFLT) (the “Aeroflot Group” or the “Company”) today launches the next stage of the share capital increase previously announced on 21 September 2020 (https://ir.aeroflot.com/en/news-detail/article/57657/).
The Aeroflot Group aims to raise at least RUB 80 billion through a placement of newly issued ordinary shares (the “Shares”) (the “Offering”) to improve its liquidity position.
The final number of Shares placed in the Offering, the price per Share, and the total amount raised as a result of the Offering will be determined during the Offering process and announced in due course.
Vitaly Saveliev, CEO of PJSC Aeroflot, said:
“The additional equity capital raised via this Offering will put the Aeroflot Group on a firm footing as we continue our recovery from the impact of COVID-19 and build for the future. The Russian passenger aviation market represents a sizeable long-term structural growth opportunity. The transparent market-based structure of the Offering demonstrates our commitment to all Aeroflot Group shareholders, robust corporate governance and the Company’s status as a publicly traded company.”
Transaction Highlights:
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About the Company
The Aeroflot Group is Russia’s largest airline group and ranks among the top 20 globally by passenger numbers. In 2019 the Aeroflot Group had a 41% market share in Russia and carried more than 60.7 million passengers, of whom 37.2 million flew with Aeroflot – Russian Airlines, the Group’s flagship premium carrier.
The Aeroflot Group operates in all key market segments from premium to low-cost, offering passengers an extensive choice of travel opportunities. The parent company of the Aeroflot Group is PJSC Aeroflot.
Aeroflot – Russian Airlines is the Aeroflot Group’s flagship premium carrier and a member of the Skyteam alliance. The airline holds 4-Star Airline status from Skytrax and Five Star Global Airline status with APEX.
In addition to Aeroflot – Russian Airlines, the Aeroflot Group includes Pobeda (leading low-cost carrier), Rossiya (a regional and socially-oriented carrier), and Aurora (a regional carrier operating in the Russian Far East).
As of 30 June 2020, the Aeroflot Group’s fleet comprised 360 aircraft, of which 246 were operated by Aeroflot – Russian Airlines. In 2019, the Aeroflot Group’s route network comprised more than 340 scheduled routes in 57 countries.
The Russian Federation owns a 51.17% stake in PJSC Aeroflot through the Federal Agency for State Property Management. As of 30 June 2020, 40.85% of shares in PJSC Aeroflot were free float owned by institutional and retail investors.
PJSC Aeroflot shares are traded on Moscow Exchange under the ticker AFLT.
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The contents of this announcement have been prepared by and are the sole responsibility of the Company.
The information contained in this announcement is for background purposes only and does not purport to be full or complete. No reliance may be placed by any person for any purpose on the information contained in this announcement or its accuracy, fairness or completeness. Neither the Company, nor VTB Capital plc and their respective affiliates undertake to provide the recipient of this announcement with any additional information, or to update this announcement or to correct any inaccuracies, and the distribution of this announcement shall not be deemed to be any form of commitment on the part of the Company to proceed with the Offering or any transaction or arrangement referred to therein. This announcement has not been approved by any competent regulatory authority.
The Offering and the distribution of this announcement and other information in connection with the Offering may be restricted by law in certain jurisdictions and persons into whose possession any document or other information referred to herein come must inform themselves about, and observe, any such restrictions. Any failure to comply with these restrictions may constitute a violation of the securities laws of any such jurisdiction.
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