Kazakhstan's Air Astana looks to IPO in 4Q19.

Update: The IPO was rescheduled for 2020. J.P. Morgan and UBS will be structuring agents.

Update: The IPO was postponed for 2022.

Update: 15 January 2024 Air Astana Group has confirmed that an initial public offering (IPO) is set to go ahead on the London and Kazakhstan stock exchanges.

The offering is expected to comprise an issue of new shares and global depositary receipts, as well as shareholders BAE Systems and Kazakhstan's sovereign wealth fund selling or converting their stakes.

Update:  Air Astana and its shareholders have set up a price of $2.38 per share for its upcoming initial public offer (IPO).

Update:  The transaction priced on 9 February 2024, unconditional trading on the LSE commenced on 14 February 2024.

Update: The European Bank for Reconstruction and Development (EBRD) has acquired $41.99 million worth of shares of Air Astana, supporting the country’s first partial privatisation through an initial public offering (IPO). 

The EBRD’s investment represents a 5% shareholding in Kazakhstan’s flagship carrier, the bank says.

The shares will be listed on both the London Stock Exchange and the Kazakhstan Stock Exchange.