Kazakhstan's Air Astana raises $120 mln in dual London, local IPO (updated)

Air Astana JSC

09/02/2024 10:07

(Adds detail, context)
       ALMATY, Feb 9 (Reuters) - Kazakhstan's flag carrier Air
Astana  AIRA.KZ  priced its initial public offer on Friday,
giving it a capitalisation of about $847 million, and valuing
the offer at $350-370 million.
        Out of that sum, the company itself is raising $120
million while the rest goes to the UK's BAE Systems  BAES.L  and
Kazakh sovereign wealth fund Samruk Kazyna, its existing
shareholders, the firm said in a statement.
  
        The offer was prices at $9.50 per global depository
receipt (GDR), or 1,073.83 tenge ($2.39) per share. The GDR
 AIRAq.L  fell to $9.10 on the London Stock Exchange by 0950
GMT.
  
        Much of the offer, however, went to Kazakh investors,
and on the local AIX exchange, the same GDR was trading at
$9.40.
  
    ($1 = 448.5500 tenge)

 (Reporting by Olzhas Auyezov; editing by Jason Neely)