MOSCOW, June 6 |
MOSCOW, June 6 (Reuters) – Russian state-controlled airline
Aeroflot is planning a secondary listing on the London
Stock Exchange followed by a placement of around 13
percent of its stock in 2012-2013, two sources familiar with an
internal presentation told Reuters.
The company, in which Britain’s Independent newspaper owner
Alexander Lebedev has a 15 percent stake, is on the list of
companies the Russian government is keen to part-privatise and
has had a share placement on its agenda for some time.
The government and Lebedev could both sell shares in the
placement, Russian daily Vedomosti reported earlier on
Wednesday, citing the same presentation from Finance Director
Shamil Kurmashov. The board of directors will discuss the
proposal at a meeting on Thursday, the newspaper said.
A spokesman for the company declined to comment on the
plans, but confirmed a board meeting will take place.
Aeroflot shares climbed 4 percent to 45.1 roubles by 1306
GMT, valuing the carrier at 49.6 billion roubles ($1.5 billion).
The sale of a 13 percent stake could therefore be worth around
$200 million.
Several Russian private and state-controlled companies have
secondary shares listed in London in order to take advantage of
foreign investment and to raise their profile.
A listing by Aeroflot – just over 50 percent owned by the
state – would relegate the government to minor shareholder
status and increase the group’s free float.
Aeroflot last month reported a near-30 percent increase in
passenger numbers over the first four months of this year, while
2011 net profit nearly doubled to $491 million.
($1 = 32.9987 Russian roubles)
(Writing by John Bowker)