Aeroflot shares bought at lowest prices may be profitable investment for NWF - Siluanov

Aeroflot shares (MOEX: AFLT), bought at the SPO to support the company’s operations during the COVID-19 pandemic, may be a profitable investment for the National Wealth Fund, said Finance Minister Anton Siluanov.

The NWF invested RUB 50 bn into Aeroflot shares. The SPO strike price, according to the results, finalized by the company this week, was RUB 60.

"The NWF has got a good asset", - said Siluanov in an interview to RBC TV.

"We invested RUB 60 per share, and as we can recall, the very same shares had cost three times as much before the pandemic. This gives us reason to believe that we can count on exiting the shares if the price us right, if we see the market going back to normal", - noted the minister.

He added that participation of the state, represented by the NWF, in the offering helped raise funds of private investors, who bought the shares for RUB 30 bn.