ASTANA, Kazakhstan, January 29. Kazakhstan's Air Astana JSC has set an initial public offering (IPO) price range, Trend reports.
Thus, one share of the company will cost from $2.13 to $2.75.
At the same time, the price of the global depositary receipt will range from $8.5 to $11.
Earlier, Air Astana JSC reaffirmed its intention to conduct an initial public offering of its GDRs abroad (the "global offer") and a concurrent sale of shares and GDRs in Kazakhstan (the "domestic offer," and together with the global offer, the "offering").
The offering will comprise the sale of shares and GDRs held by BAE Systems (Kazakhstan) Limited ("BAE") and Sovereign Wealth Fund Samruk-Kazyna Joint Stock Company (“SK”), in addition to new shares and GDRs issued by the company.
Meanwhile, Air Astana is the largest airline in Kazakhstan, based in Almaty. The Air Astana group of companies also includes the low-cost airline FlyArystan. The airline operates domestic and international regular flights on 64 routes. The company is a joint venture of Kazakhstan's Samruk-Kazyna National Welfare Fund (51 percent) and the British company BAE Systems PLC (49 percent).
On May 15, 2002, Air Astana performed its first flight from Almaty to Astana.