Kazakhstan’s largest airline has begun preparations for an initial public offering (IPO). The placement of shares should be carried out in the first quarter of 2024 on two exchanges: in Kazakhstan and London. According to preliminary data, Air Astana could receive a valuation of $1 billion.
Air Astana, Kazakhstan’s largest airline, has begun preparations for an initial public offering on two exchanges. The company is currently hiring consultants, Bloomberg reported.
Air Astana’s IPO should take place in the first quarter of 2024 on the Kazakhstan and London stock exchanges. During the IPO, the company could be valued at $1 billion.
The shares will be offered to investors by the National Wealth Fund of Kazakhstan, which owns 51% of the capital of Air Astana, as well as the British defense company BAE Systems, which owns 49%. Shareholders plan to reduce their total stake in Air Astana to 50%.
Earlier it became known about the planned IPOs of Sovcombank, Skyeng and Honor.
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