The first public sale of shares, or IPO, of Kazakh airline Air Astana, which is partially owned by British company BAE Systems, will take place on the London Stock Exchange (LSE). According to City AM, the company plans to list its shares at a price of $9.50 each, which would result in a valuation of $847 million (£671 million).
In order to allow both domestic and foreign investors to contribute to the growth of the brand, Air Astana will list shares on the Kazakhstan Stock Exchange as well as the Astana International Exchange, according to the company’s CEO, Peter Foster. Starting on February 14, the company plans to raise between $770 million and $962 million through trading on the LSE.
To evaluate the state of the London markets, experts are anticipated to keep a close eye on this IPO process. Many companies, including British ones, have chosen to list their shares in other countries as the LSE has lost its appeal as one of the most desirable exchanges for investors in recent years. A recent example is the Cambridge startup Nuclera’s intention to list on the New York Stock Exchange through an initial public offering (IPO).