Air Astana JSC - airline group operating in Central Asia and the Caucasus region - Announces price range for planned offering, which comprises an initial public offering of its global depositary receipts internationally and a concurrent offering of shares and GDRs in Kazakhstan. Offering consists of sale of shares or GDRs held by BAE Systems (Kazakhstan) Ltd and Sovereign Wealth Fund Samruk-Kazyna Joint Stock Co, plus new shares issued by Astana. Says indicative price range for IPO has been set at USD8.50 to USD11.00 per GDR, and between USD2.13 to USD2.75 per share. Each GDR represents four shares. Final offer price will be within this range. Share price range is equivalent to between KZT956 and KZT1,237. Company expects IPO to raise around USD120 million gross, resulting in a market capitalisation of USD770 million to USD996 million.

Chief Executive Officer Peter Foster says: "We are pleased to announce the significant progress made for our initial public offering on the LSE, AIX and KASE. The response to the offering and strong investor interest have been very positive."

By Emma Curzon, Alliance News reporter

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