The Air Astana Group, recognized as the largest airline group in Central Asia and the Caucasus region in terms of market share, has reached a significant milestone with the commencement of conditional trading of Global Depositary Receipts (GDRs) on the London Stock Exchange. This achievement, in connection with its Initial Public Offering (IPO) and triple listing on the London Stock Exchange, Kazakhstan Stock Exchange, and Astana International Exchange, underscores the company's remarkable success over the past two decades, London Stock Exchange reported on February 9.
Comprising two distinct yet complementary brands, Air Astana and FlyArystan, the Air Astana Group effectively targets diverse customer markets and geographies, providing a wide range of options to meet varying travel needs and preferences.
Peter Foster OBE, President & CEO at Air Astana, expressed his delight at the company's success, emphasizing the pivotal role played by Air Astana in transforming regional connectivity.
“I am delighted to share our success today by announcing next stage in our journey to becoming a public company with the start of conditional dealings on the London Stock Exchange. As the flagship carrier of Kazakhstan, we are proud of our role in transforming connectivity across the region, a thriving and rapidly developing aviation market with untapped growth potential. The listings in London and Kazakhstan have created the perfect platform for both local Kazakh investors and international investors to participate in our success story, as we continue to grow into one of the top international airline groups,” Peter Foster stated.
Julia Hoggett, CEO of the London Stock Exchange, welcomed Air Astana's IPO, citing the Group's exceptional track record and rapid growth trajectory.
“I am delighted to welcome another IPO by a leading Central Asian company to the Main Market. Air Astana’s impressive track record and growth journey make it one of fastest growing airline groups. This successful cross-border IPO reiterates the London Stock Exchange’s position as the venue of choice for leading international companies,” Julia added.
Kaspi.kz, a mobile application company, initiated its initial public offering (IPO) on the Nasdaq stock exchange on January 19, raising approximately $1 mn. Upon its debut trading day, Kaspi.kz shares opened 0.5% above its offered price, leading to a company valuation of $17.51 bn.
Although Kaspi.kz has been listed on the London Stock Exchange since 2020, it is also listed on the Kazakhstan Stock Exchange and the Astana International Exchange. The decision to pursue a U.S. listing aims to enhance the company's liquidity. Despite being headquartered in Kazakhstan, a country with a smaller GDP compared to those typically associated with U.S. listings, Kaspi.kz is the third-largest company to IPO since 2020, following Arm and Kenvue, as noted by Renaissance Capital.
Originally established as a bank in 2008, Kaspi.kz, based in Almaty, Kazakhstan, has transitioned into offering a comprehensive super app. This app consolidates various services, including banking, lending, payments, e-commerce, tax filing, driving license renewals, flight ticket purchases, and more. The company was co-founded by Mikheil Lomtadze and Vyacheslav Kim.
Earlier Daryo reported that on January 30th, Kazakhstan Stock Exchange reported that Air Astana, the national carrier of Kazakhstan, has announced its intention to launch an initial public offering (IPO). The IPO will include the issuance of 141 mn common shares on the Kazakhstan Stock Exchange (KASE), with the notable inclusion of an invitation for citizens of Uzbekistan to partake in this investment opportunity.
Comments (0)