The flag carrier airline of the central Asian state of Kazakhstan has confirmed its intention to join the London stock market.
Air Astana plans to float at least 25 per cent of its share capital and to raise about $120 million by issuing new shares.
The listing, which is being handled by Citigroup and Jefferies, also will allow existing investors BAE Systems, the defence group, and Kazakhstan’s sovereign wealth fund to reduce their holdings.
Air Astana said that it expected its initial public offering on the London Stock Exchange and on Kazakhstan’s AIX market to go ahead next month. Shares in a local Kazakhstan exchange were due to being trading today.
The float would provide a boost to the London stock market after it
