Air Astana announces target price range for IPO

Kazakhstan’s Air Astana air company has announced today the target pricing range per share of its initial public offering, Kazinform News Agency correspondent reports.   

The Air Astana IPO price band set at 2.13 to 2.75 US dollars per share, and from 8.50 to 11.00 US dollars as global depositary shares.

According to the company, each Global Depositary Receipt certifies the rights to four ordinary shares of Air Astana.

The company plans to attract around 120 million US dollars within the initial public offering, with its market capitalization rising to up to 962 million US dollars.

The final offer price per share is to be announced before February 9, 2024.

Trading of the company’s shares is to begin on February 14 in London and on February 15 on KASE and AIX, Ibrakhim Zhanlyel, executive director for finance at the Air Astana Group of Companies, said.