The quotes for "Samolyot" SMLT have fallen by almost 5% amid a request for state support in exchange for a block of shares.

The largest developer in Russia, "Samolyot," has approached the government with a request for state support. Shareholders are ready to provide the state with blocking and additional blocks of shares of the company, with the right to a buyback at a new (likely higher) price.

Shareholders are ready to inject ₽10 billion into the company — "ready to provide additional external financing of up to ₽10 billion."

The company is requesting a preferential loan of ₽50 billion for three years to "eliminate failures to meet obligations to shareholders."