Air Astana to Hire Advisers for London IPO in Early 2024
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Air Astana, Kazakhstan’s flag carrier, is hiring advisers for a long-delayed initial public offering in London and at home, aiming for the first quarter of next year, according to people with knowledge of the matter.
UK defense firm BAE Systems Plc and Kazakhstan’s sovereign wealth fund — the airline’s shareholders — plan to reduce their combined ownership to about 50%, and Air Astana will also sell new shares, according to the people, who asked not to be identified as the information is not public. BAE owns 49% of Air Astana, and Samruk-Kazyna controls the remaining 51%. The company has started pitching the planned share sale to would-be investors, they said.