Air Astana raised $120 million in its IPO

As part of its IPO, Air Astana raised $120 million to accelerate the next stage of its growth. The total amount raised on the exchanges amounted to $370 million at a valuation of approximately $847 million.

Air Astana became the first Kazakhstani company to list its shares simultaneously on three exchanges within the country and abroad: the Kazakhstan Stock Exchange, the Astana International Exchange, and the London Stock Exchange.

The number of applications submitted to participate in the Group's IPO exceeded the offer.
58% of the offer was placed on the Kazakhstani market, and 42% was placed on the international market. Total demand on the Kazakhstani market exceeded $483 million. Retail investors submitted approximately 60,000 applications for the Air Astana IPO totaling around $216 million. Approximately 53% of the total demand from retail investors was fulfilled. Kazakhstani institutional investors received approximately 38% of their total demand, while international investors received approximately 25% during the placement.

Source: kase.kz