Kazakhstan's national carrier Air Astana went live on the Main Market of the London Stock Exchange today under the ticker symbol ‘AIRA’,
It marks the first major debut in London in 2024.
Air Astana is expected to generate over £277 million from the offer, which will primarily fund the airline's growth strategy.
Air Astana priced the initial public offering at 1.073.83 Kazakhstani tenge, or around 189p, per share, giving an implied valuation of more than £670 million for the flagship carrier.
The offering entails the sale of shares and GDRs held by the Sovereign Wealth Fund Samruk-Kazyna and BAE Systems (Kazakhstan) Limited, in addition to new shares issued by the company.
“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," said Peter Foster, Air Astana’s president and chief executive.