Shares Of Air Astana To Be Offered At IPO To Kazakhstani Investors

Air Astana Sees Rebound Tied to Kazakhstan’s Recovery

The shares of Air Astana company will be sold to Kazakhstani investors at the IPO, said Berik Beisengaliyev, managing director on assets optimization Samruk-Kazyna.

“As for Air Astana, you know we have 51% there, 49% belong to Bae Systems. We plan to offer 50% of our assets at the IPO. As you know, it was in the draft law which is being considered now. To keep the status of the national air carrier 51% must be in Kazakhstan. It is not necessarily Samruk-Kazyna. Even if Samruk-Kazyna sells 25%, they must go to the hands of Kazakhstani investors, in this case Kazakhstani side will keep 51% and the status of the national operator will be kept,” he said.

He said currently Samruk-Kazyna is working on the complex plan of privatization approved by the Government.

He reminded Samruk-Kazyna included more than 600 companies and consisted of 9 management levels in 2014.

“As of January 1 there were 400 companies and 7 management levels, by the end of the year we plan to leave 300 companies and about 5 management levels,” he said.