Air Astana announces offer price range for IPO in London and Kazakhstan

Following the announcement on 19 January 2024 confirming its intention to proceed with an initial public offering of its GDRs internationally and a concurrent offering of Shares and GDRs in Kazakhstan (the “Domestic Offer”, and together with the Global Offer, the “Offering”), Air Astana Joint Stock Company and, together with its subsidiary, the Air Astana Group, today announces the price range for the planned Offering.

The Offering consists of the sale of Shares (or GDRs representing Shares) held by BAE Systems (Kazakhstan) Limited (“BAE”) and Sovereign Wealth Fund Samruk-Kazyna Joint Stock Company (“SK”), in addition to new Shares (or GDRs representing Shares) issued by the Company.

The indicative price range of the Offering has been set at USD 8.50 to USD 11.00 per GDR, and USD 2.13 to USD 2.75 per Share.

Peter Foster, Air Astana Group President and CEO, commented, “We are pleased to announce the significant progress made for our initial public offering on the LSE, AIX and KASE.

“The response to the offering and strong investor interest have been very positive.

“As one of the fast-growing airline groups, we firmly believe that Air Astana represents an attractive investment proposition, supported by strong financial and operational track record, significant growth opportunities, and an experienced, disciplined management team.

“We look forward to continuing our success while creating long-term value for our future shareholders.”