Air Astana announces pricing for IPO in London and Kazakhstan

Following the announcement on 29 January 2024 of the offer price range, Air Astana Joint Stock Company today announces the pricing and the successful completion of the bookrunning process in relation to the initial public offering of GDRs internationally and a concurrent offering of Shares and GDRs in Kazakhstan.

The offer price has been set at USD 9.5 per GDR, and KZT 1,073.83 per Share.

The GDRs represent Shares in the Company with one GDR representing an interest in four Shares.

Based on the Offer Price, the implied market capitalisation of the Company will be approximately USD 847 million at the commencement of conditional dealings on the Main Market of the London Stock Exchange and AIX.

Peter Foster, Air Astana Group President and CEO, commented: “We are delighted to share our success today as we close the books on our initial public offering and commence conditional dealings on the London Stock Exchange and AIX.

“The strength of investor support reflects our profile as a profitable, high-growth airline group underpinned by compelling market dynamics.

“We have received strong interest both domestically and internationally, and this has resulted in a highly successful IPO multiple times oversubscribed.

“The triple listing on the London Stock Exchange, Kazakhstan Stock Exchange and Astana International Exchange has created the perfect platform to raise capital while allowing both local citizens and international investors to participate in our success story.

“This is the start of an exciting new phase for the Air Astana Group and we welcome all our new shareholders as we deliver our growth strategy.”