ASTANA, Kazakhstan, October 16. Kazakhstan plans to hold an IPO (Initial Public Offering) of Air Astana JSC as part of the Comprehensive Privatization Plan, Trend reports.
This was stated during a meeting of the State Commission on Economic Modernization, which was chaired by the Prime Minister of Kazakhstan, Alikhan Smailov.
Based on the results of the consideration, the State Commission supported the proposed approaches, timing and structure of the Air Astana JSC IPO, which involves reducing the size of the stake owned by Samruk-Kazyna National Welfare Fund JSC to less than 51 percent of the total number of outstanding shares of Air Astana JSC.
In conclusion, the Prime Minister gave a number of relevant instructions to the concerned government bodies.
Air Astana (legal name of Air Astana JSC) is a group of airlines based in Almaty, Kazakhstan. It is the largest airline in Kazakhstan, operating domestic and international scheduled flights on 67 routes.
The company is a joint venture of the Samruk-Kazyna National Welfare Fund JSC (51 percent) and the British company BAE Systems PLC (49 percent), formed in October 2001.