Kazakhstan carrier Air Astana expects to raise $120 million in a float on the London and local stock exchanges.
The initial public offering is expected to value the central Asian airline group at between $770 million and $962 million.
The expectation came today ahead of the final price of the offering due to be disclosed on or around February 9.
Air Astana Group chief executive Peter Foster “We are pleased to announce the significant progress made for our initial public offering.
“The response to the offering and strong investor interest have been very positive.”
He added: “As one of the fast-growing airline groups, we firmly believe that Air Astana represents an attractive investment proposition, supported by strong financial and operational track record, significant growth opportunities, and an experienced, disciplined management team.
“We look forward to continuing our success while creating long-term value for our future shareholders.”
Group operates a fleet of 50 aircraft split between full service Air Astana and low cost arm FlyArystan, established in 2019.
Passenger carryings in 2022 reached 7.3 million across 52,000 flights covering 16 countries.