Central Asian carrier Air Astana today confirmed plans to float on the London stock market.
The initial public offering (IPO) is likely to value the Kazakhstan-based airline group at around £750 million.
The move was flagged earlier this month, with chief executive Peter Foster saying: “We are confident that the initial public offering will accelerate the next stage of growth for the Air Astana Group, and we see significant opportunities to thicken our existing routes and expand into new geographic areas, supported by our continued fleet expansion plan and initiatives to increase operational flexibility.”
Air Astana operates a fleet of 49 aircraft operating on almost 100 routes across 21 countries with eight million annual passenger carryings.
The group also runs low cost carrier FlyArystan, estbalished in 2019.
Foster said today (Friday): “On behalf of the company, I am delighted to formally confirm our intention to bring Air Astana Group to the public markets.
“As the largest airline group in Central Asia and the Caucasus, we are confident that our industry standing, market position and growth profile present a compelling investment opportunity.
“This is an important milestone in our long-term strategy and we look forward to welcoming new Kazakh and international investors as shareholders.”
Shares in the group are expected to start trading on the London Stock Exchange and in Kazakhstan in February.