Charter capital of JSC Aeroflot as of 31 December 2013 amounted to RUB 1,110,616,299, consisting of 1,110,616,299 common registered uncertified shares with par value of 1 rouble. The Company does not have preferred shares.
State registration numbers of Aeroflot common share issues are:
In addition to shares outstanding, the Company has the right to issue a further 250 million common shares (authorised shares). No additional shares were issued in 2013.
Structure of share capital,%
The total number of shareholders recorded in the register of shareholders of Aeroflot on 31 December 2013 was 10,686 (26 legal entities and 10,660 individuals), compared with 10,881 on 31 December 2012 (29 legal entities and 10,852 individuals).
The register of shareholders of JSC Aeroflot is kept by CJSC Computershare Registrar (License №
Information on main shareholders of JSC Aeroflot
Aeroflot shares, depositary receipts and bonds are traded on the stock market. The Company’s common shares and exchange-traded bonds are traded on the Russian stock market, and global depositary receipts (GDRs) are traded on foreign markets.
Aeroflot shares are traded on the Moscow Exchange, where they are included in the A1 (highest) listing as of 31 December 2013 under the AFLT ticker. The shares trade in the T+2 and Standard sectors. Aeroflot shares are included in the main Russian stock indexes: MICEX, MICEX BMI (Broad Market Index), and the MICEX TRN (Transport Sector Index).
There was further growth of trading volumes in Aeroflot shares on the Moscow Exchange in 2013, when volumes rose by 47% in comparison with 2012, from a daily average of 1.508 million to a daily average of 2.211 million shares.
Average daily trading volumes on the Moscow Exchange
Maximum and minimum market price per share, roubles
Aeroflot share price and the MICEX index in 2013
Aeroflot share price and Bloomberg airline indexes in 2013
Aeroflot’s market capitalisation as of 31 December 2013 was RUB 93.37 billion (USD 2.86 billion), which was 85.5% higher than on 31 December 2012 (the increase in USD terms amounted to 73.3%).
Aeroflot share price trends in 2013 were generally in line with the global trends in the airline industry. Progress with integration of new assets into Aeroflot Group led to improvement of the Group’s operating and financial performance. Synergies from the ongoing merger of aviation assets into Group structure led to the expansion of market presence and growth of financial performance, with positive impact on Aeroflot’s business and market valuation. The market also welcomed the decision to pay dividends in 2013 on the results of business in 2012. The dividends paid in 2013 were RUB 1.1636 per share (the dividend payout ratio was 26.2% based on RAS financial statements), making the Group more attractive to investors.
Aeroflot shares are traded outside Russia via global depositary receipts (GDRs) at the over-the-counter section of the Frankfurt Stock Exchange. One GDR represents five common shares of Aeroflot. Deutsche Bank Trust Company Americas acts as depository bank and LLC Deutsche Bank is the custodian. A total of 10,712,000 shares were converted into GDRs as of 31 December 2012, representing 0.96% of Charter Capital.
Preliminary work was carried out in 2013 to adjust the ratio of shares to GDR to 5:1. The change in the ratio was brought into effect in January 2014.
In 2013, Aeroflot began preparations to launch a Level-1 American Depositary Receipt (ADR) programme as part of efforts to expand the pool of potential investors in the Company, including investors on the U.S. over-the-counter market. In December 2013, permission was obtained from the CBR for depositary receipts to be traded abroad and in January 2014 the U.S. Securities and Exchange Commission announced that Aeroflot’s Level-1 ADR programme had been launched.
Aeroflot’s GDR programme
|Programme type||Sponsored Level-1 Global Depositary Receipts under SEC Rule 144А|
|Ratio (shares: GDR)||5:1|
Aeroflot’s Level-1 ADR programme
|Programme type||Sponsored Level-1 American Depositary Receipts|
|Ratio (shares : ADR)||5:1|