Air Astana, the Kazakh airline due to become one of London’s earliest IPOs this year, has revealed an offer price range ahead of its anticipated 14 February listing.
The firm's global depositary receipts will be available to investors between $8.50-$11 per GDR, while shares in the company will only be available on the Kazakhstan Stock Exchange (KASE) or Astana International Exchange (AIX). Kazakh airline Air Astana plans dual London listing One GDR will represent four shares in the firm, which will be available between $2.13-$2.75, although orders must be placed in KZT and will be equal to the final offer prices per GDR divided by four. The IPO is set to raise new proceeds of $120m, with further GDRs and shares made available by a sale of holdi...
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