Global law firm White & Case LLP has advised a syndicate of banks including Citigroup and Jefferies as the joint global coordinators and bookrunners and WOOD & Company as joint bookrunner on the initial public offering (IPO) of Air Astana Joint Stock Company (Air Astana).
It is the first Main Market-listed IPO on the London Stock Exchange since July 2023, with concurrent listings on Astana International Exchange (AIX) and Kazakhstan Stock Exchange (KASE). The total value of the offering amounted to US$350 million and Air Astana’s market capitalisation at the commencement of trading was approximately US$850 million.
The IPO comprised a primary offering of shares by Air Astana as well as secondary offering of shares and global depositary receipts by BAE Systems and Sovereign Wealth Fund Samruk-Kazyna, undertaken through an offering to international institutional investors outside of Kazakhstan and a public offering to retail and institutional investors in Kazakhstan.
Launched in 2002, Air Astana is Kazakhstan’s flag carrier and the largest airline group in Central Asia and the Caucasus region based on market share.
The White & Case team which advised on the transaction was led by partners Inigo Esteve and Laura Sizemore (London) and included local partner Semion Issyk (Astana) and associates Amulang Povaeva (London), Madina Arturova and Mikhail Revenko (both Astana).
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Read the orginal article: https://www.whitecase.com/news/press-release/white-case-advises-banks-air-astanas-us847-million-triple-lse-aix-and-kase
