Air Astana (KC, Astana Nursultan Nazarbayev) aims to raise around USD120 million in dual listings on the London and Kazakhstan stock exchanges, a move in which both of its shareholders – the Samruk Kazyna Sovereign Wealth Fund and British aerospace and defence company BAe Systems – will divest shares and global depositary receipts (GDRs), the Kazakh flag carrier has announced.

BAe Systems currently holds a 49% stake in Air Astana, Samruk-Kazyna the other 51%. The fundraising is designed “to support the company’s…

Source: ch aviation
Read more: Kazakhstan’s Air Astana plans twin IPO in Almaty, London