Air Astana announces pricing of initial public offering

Air Astana has announced the pricing and the successful completion of the bookrunning process in relation to its initial global offering of shares and GDRs, with the offer price set at $9.50 per share; implying a market capitalisation of approximately $847 million. The offering is expected to result in gross proceeds of around $350 million (or $370 million assuming full exercise of the over-allotment option), of which approximately $120 million will be raised by the company to support its growth strategy. The offering, first announced in January, consist of the sale of shares (or GDRs representing shares) held by the