ASTANA – The Samruk Kazyna Sovereign Wealth Fund and the BAE Systems (Kazakhstan) Limited, shareholders of Air Astana, plan to sell their shares at the upcoming initial public offering (IPO) on the London Stock Exchange, Astana International Exchange (AIX), and Kazakhstan Stock Exchange (KASE), said Managing Director for Development and Privatization of Samruk Kazyna Saltanat Satzhan, reported Kazinform on Jan. 24.
According to Satzhan, Air Astana plans to raise $120 million and use funds for the company’s development.
“I would like to note that there are very strict regulatory listing rules under which all information can be disclosed, so that all investors have equally accessible information. … The exact structure of the IPO will be determined after an appropriate assessment,” said Satzhan.
Air Astana plans to start its IPO roadshow on Jan. 29.