Kazakhstan’s flag carrier Air Astana has announced its intentions to proceed with its Initial Public Offering (IPO) entering the London Stock Exchange (LSE), Astana International Exchange (AIX) and the Kazakhstan Stock Exchange (KASE).

The announcement follows the airline’s intention to publish a registration document with the SEC (Securities and Exchange Commission) in the US.

The carrier stated how they plan to “float on the London Stock Exchange”, at a reported value of £750m ($954m), to boost the company’s growth.

According to the carrier, if the airline was to go through with the offering, it would be “expected to compromise the sale of shares and GDRs held by BAE Systems”.

Peter Foster, Air Astana Group President and CEO, emphasised the company’s aims with the listings.

Foster said: “Our intention to list in London and Kazakhstan demonstrates the strong foundations of the Air Astana Group and the exciting prospects to increase air travel across our key markets.

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“We are confident that the initial public offering will accelerate the next stage of growth for the Air Astana Group, and we see significant opportunities to thicken our existing routes and expand into new geographic areas, supported by our continued fleet expansion plan and initiatives to increase operational flexibility.

Air Astana has put forward an application for its KASE trading shares to be admitted to the “premium” category for its trading admissions.

It has further applied for admission on the GDRs to the standard listing segment of the Financial Conduct Authority (FCA)

The Air Astana Group, the largest airline across Central Asia and the Caucasus, currently serves around eight million passengers annually. The carrier has access to a fleet of 49 aircraft, featuring long-haul and short-haul air travel and cargo services.

Through our full-service airline Air Astana and our low-cost carrier FlyArystan, we operate more routes and serve more destinations than any other airline in our extended home market, Kazakhstan, Central Asia and the Caucasus and are strategically located to connect with flights across Europe, the Middle East and Asia” added Foster.