Russian Helicopters, which made the machines used by the Soviet army during its own intervention in Afghanistan, makes the world’s most widely used medium-lift helicopter, the Mi-8, as well as helicopter gunships. It generated revenues of $2.2billion last year. It has 8,500 helicopters registered, 13 per cent of the global fleet. The fund-raising is split between $250million of new shares and $250million worth being sold by parent group Oboronprom. The new money will be used to consolidate stakes in 11 regional manufacturers.
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Analysts said interest in the company could be high as it is the first asset from Russia’s defence sector to be floated.