British BAE Systems sells its share in Air Astana - Jefferies

ASTANA. March 19 (Interfax) - British BAE Systems is selling its share in Kazakh airline Air Astana, book runner Jefferies International Limited said in a press release on the London Stock Exchange website.

"BAE Systems (Kazakhstan) Limited (the 'Selling Shareholder') has agreed to sell 6,109,982 Global Depositary Receipts in Air Astana Joint Stock Company ('Air Astana' or the 'Company'), representing approximately 6.86% of the existing share capital of Air Astana, to a limited number of institutional investors at a price of $5.10 per Sale GDR (the 'Placing')," the press release reads.

It says that Jefferies International Limited and WOOD & Company Financial Services, a.s. are acting as joint book runners, the former also acting as the global coordinator.

Air Astana, Kazakhstan's largest airline, held an IPO in February 2024, raising nearly $370 million and valuing the entire company at $847 million.

Air Astana writes on its website that its shareholders are Kazakhstan's Samruk-Kazyna Sovereign Wealth Fund with 41%, the Kazakh subsidiary of British BAE Systems Limited, BAE Systems (Kazakhstan) Limited, with 6.86%, and the Unified Accumulative Pension Fund of Kazakhstan with 6.5%.