Air Astana plans initial public offering on London and Kazakhstan stock exchanges

Air Astana is planning to list an initial public offering (IPO) on both the Kazakhstan and London Stock Exchanges, aiming to raise approximately $12o million to help fuel the Kazakh national carrier’s growth. The IPO will comprise the sale of existing shares and GDRs held by BAE Systems (Kazakhstan) and the Kazakh Sovereign Wealth Fund in addition to new shares and GDRs, which is due to go ahead in February, a filing by the airline confirmed. “I am delighted to formally confirm our intention to bring Air Astana Group to the public markets,” commented Peter Foster, president and CEO. “As