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Sovereign Wealth Funds Briefing - Categorized | Investment, Market

Azeri state oil fund to invest $500 mln in VTB

Posted on 07 May 2013

Azerbaijan’s state oil fund SOFAZ has agreed to invest around $500 million in a new share offering by VTB, Russia’s second-largest bank, the fund said in e-mailed comments to Reuters.
VTB says it has already received firm orders for all of the 2.5 trillion shares it is selling in Moscow at 4.1 kopecks apiece, raising 102.5 billion roubles ($3.3 billion) to bolster its capital. Jamala Aliyeva, head of public relations at SOFAZ, said the fund had been investing in Russian money market instruments, fixed-income securities and commercial real estate since 2012. The VTB investment marked a further step to strengthen its presence in Russia………………………………………..Full Article: Source


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