Air Astana
Stats
raised from investors
media mentions
value of the company after the IPO
Challenge
Air Astana is the flagship carrier of Kazakhstan and one of the fastest growing airline groups in the world. First mooted in 2012, the airline’s long-anticipated IPO had been repeatedly postponed by events including the Covid-19 pandemic and Russian invasion of Ukraine.
The airline was owned by the Kazakhstan Sovereign Wealth Fund (51%) and BAE Systems (49%). As such, its IPO involved a dual listing to satisfy local, retail demand in Kazakhstan (KASE and AIX) and an international offering on the London Stock Exchange.
Solution
We provided strategic counsel on all internal and external communications materials relating to the IPO. This involved liaising with the joint global coordinators and legal counsel to advise on investor materials, media enquiries and staff presentations. We produced full-length and bite-sized investor films to explain Air Astana’s growth story on social media and to customers as part of the in-flight experience. For international audiences, we drafted all IPO announcements and arranged media interviews with key media outlets, including The Financial Times, The Times, and Bloomberg.
As a result, Air Astana became the first major IPO of 2024 on the London Stock Exchange, and one of the largest in recent years. It raised $350 million from investors at a valuation of between $847 million.
