Russia to use national wealth fund to buy new Aeroflot shares - minister

Russia plans to tap its rainy day fund to buy into an additional share offering by state-controlled airline Aeroflot, Finance Minister Anton Siluanov said Wednesday. Russia’s biggest airline is preparing to issue up to 1.7b new shares in the secondary share offering (SPO), pencilled in for the next month. The state plans to buy part of the new share issue as it aims to retain at least its existing 51.2% stake in Aeroflot, with the Russian Direct Investment Fund (RDIF) and state-controlled bank VTB also taking part, sources have said. Siluanov, speaking to reporters on Wednesday, said the state would use the National Wealth Fund (NWF) to buy into the SPO.<br/>