Skip Header
Important information: The value of investments can go down as well as up so you may get back less than you invest. Investors should note that the views expressed may no longer be current and may have already been acted upon. This is a third-party news feed and may not reflect Fidelity’s views.

Air Astana to raise $370m in IPO next week

(Sharecast News) - Air Astana's stock-market flotation will value the Kazakhstan-based carrier at $847m, the company announced ahead of its initial public offering next week that will see it raise $370m. The company set an IPO price of $9.50 per global depositary receipt (GDR), in the middle of the $8.50 to $11 range given last month.

Air Astana, the flag carrier of Kazakhstan part-owned by BAE Systems and sovereign wealth fund Samruk-Kazyna, is applying for a triple listing and will be listed on main market of the London Stock Exchange as well as the Astana International Exchange and the main market of the JSC Kazakhstan Stock Exchange.

The flotation includes the sale of shares from BAE and Samruk-Kazyna as well as new shares issued by the company. Following the IPO, BAE will keep a 15.3% stake while Samruk-Kazyna will own 41%.

Conditional dealings in the GDRs under the ticker AIRA will start on Friday 9 February to investors who applied for, and were allocated, GDRs on a conditional basis. The commencement of unconditional dealings in the GDRs will begin as markets open on 14 February.

"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," said chief executive and president Peter Foster.

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

Foster said that the triple listing "has created the perfect platform to raise capital while allowing both local citizens and international investors to participate in our success story".

Share this article

Related Sharecast Articles

Chipmaker TSMC lifts sales guidance as AI boom continues
(Sharecast News) - Apple and Nvidia supplier TSMC lifted its sales guidance for the full year on Thursday as demand for its chips continues to be supported by the ongoing AI boom.
Craneware full-year revenue set to top expectations
(Sharecast News) - US healthcare management and support specialist Craneware reported a strong full-year sales performance in an update on Thursday, driven by ongoing investment in the Trisus platform and successful partner programmes, resulting in significant returns for its US healthcare provider customers.
Meta reportedly in talks to buy stake in Ray-Ban maker EssilorLuxottica
(Sharecast News) - Facebook parent company Meta is reportedly in discussions to buy a 5% stake in Italian-French eyewear maker EssilorLuxottica as the social-media giant looks to deepen its ties with the company that makes its Ray-Ban Meta smart glasses.
Midwich revenue rises, earnings fall in first half
(Sharecast News) - Specialist audio-visual distributor Midwich Group reported a robust first-half revenue performance on Thursday, but a fall in earnings amid challenging market conditions.

Important information: This information is not a personal recommendation for any particular investment. If you are unsure about the suitability of an investment you should speak to one of Fidelity’s advisers or an authorised financial adviser of your choice. When you are thinking about investing in shares, it’s generally a good idea to consider holding them alongside other investments in a diversified portfolio of assets. Past performance is not a reliable indicator of future returns.

Award-winning online share dealing

Search, compare and select from thousands of shares.

Expert insights into investing your money

Our team of experts explore the world of share dealing.