Air Astana sets sights on £750m valuation with upcoming IPO

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Air Astana sets sights on £750m valuation with upcoming IPO
Credit: © Reuters.

ALMATY - Kazakhstan's flag carrier, Air Astana, has unveiled plans to go public with an initial public offering (IPO) aimed at achieving a valuation of approximately £750 million ($954 million). The airline has expressed intentions to list its shares on multiple exchanges, including the London Stock Exchange (LSE), the Astana International Exchange (AIX), and the Kazakhstan Stock Exchange (KASE).

As the airline prepares for its market debut, it is in the process of registering with the U.S. Securities and Exchange Commission (SEC). Notably, BAE Systems (LON: BAES ), a significant shareholder in Air Astana, may consider selling its stake following the IPO, although the specifics of such a sale have not been disclosed.

Under the leadership of its CEO, Air Astana is charting a course for growth that emphasizes expanding its route network and increasing the number of aircraft in its fleet. The airline, together with its low-cost subsidiary FlyArystan, currently serves around eight million passengers each year.

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