Air Astana sets pricing for its IPO

<img width="250" height="167" src="×167.jpg" class="webfeedsFeaturedVisual wp-post-image" alt="" decoding="async" style="float: left; margin-right: 5px;" link_thumbnail="" srcset="×167.jpg 250w,×467.jpg 700w,×512.jpg 768w,×80.jpg 120w,×163.jpg 245w,×333.jpg 500w, 1254w" sizes="(max-width: 250px) 100vw, 250px" /><p><span data-contrast="auto">The IPO will offer shares or GDRs representing shares held by BAE Systems Limited (BAE) and Sovereign Wealth Fund Samruk-Kazyna (SK). The company will list these on the <a href="" target="_blank" rel="noopener">London Stock Exchange</a> (LSE), Astana International Exchange (AIX), and Kazakhstan Stock Exchange (KASE).</span><span data-ccp-props="{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p>
<p><span data-contrast="auto">Analysts believe this float is a much-needed boost for the LSE’s torpid IPO performance. Air Astana aims for a $770m to $962m market valuation and a $300m gain, which includes $120m raised by the company.</span><span data-ccp-props="{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p>
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<p><span data-contrast="auto">Since Russian airspace was declared a no-go zone after the Ukraine invasion, central Asian airlines, such as Air Astana, raked in passenger numbers and consequent revenues. The air service’s group president and CEO, Peter Foster, summed up their approach:</span><span data-ccp-props="{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p>
<blockquote><p><span data-contrast="auto">As one of the fast-growing airline groups, we firmly believe that Air Astana represents an attractive investment proposition, supported by strong financial and operational track record, significant growth opportunities, and an experienced, disciplined management team. We look forward to continuing our success while creating long-term value for our future shareholders.</span><span data-ccp-props="{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p></blockquote>
<p><span data-contrast="auto">At present, Air Astana operates 49 aeroplanes and, to date, accommodates 7 million passengers. The company’s operating profit for 2002 was $149m.</span><span data-ccp-props="{&quot;201341983&quot;:0,&quot;335559739&quot;:160,&quot;335559740&quot;:259}"> </span></p>
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