Instinctif Partners advised Air Astana during IPO listing

10 February 2024 Consultancy.asia 2 min. read

Air Astana has successfully closed its public offering on the London Stock Exchange, valuing the Kazakhstan business at close to $900 million. The company's trusted communications advisor, Instinctif Partners, was part of the IPO team that guided the process.

During the public listing process, Instinctif Partners was responsible for providing strategic counsel on all internal and external communications relating to the IPO. The firm organized investor meetings and produced supporting videos, like social media films for investors and in-flight videos aimed at customers. Instinctif Partners was also responsible for coordinating media interviews.

“As Air Astana's trusted international PR advisors, we guided them through this historic milestone, and we're immensely proud of the results achieved,” said chief executive Julian Walker in a post.

Instinctif Partners advised Air Astana during IPO listing

The triple listing of Air Astana, on the London Stock Exchange and in Kazakhstan – in the AIX (Astana International Exchange) and the KASE (Kazakhstan Stock Exchange), raised $350 million from investors, valuing the business at $847 million.

Before going public, Air Astana was held privately as a joint venture between two entities: 51% by Samruk-Kazyna, a Kazakh sovereign wealth fund that owns a large number of companies in the country; and 49% by BAE Systems, a UK security and aerospace company, and the largest defense contractor in Europe.

When companies go public, they assemble IPO teams made up of many different advisors, including investment bankers, strategy consultants, financial advisors, and specialist advisors that each oversees key work streams in the separate areas of legal, tax, and communications (overseen by Instinctif Partners).

“We are confident that the IPO will contribute to the next stage of growth for Air Astana, presenting significant opportunities to consolidate existing routes and expand into new geographical regions, considering our plans for further fleet expansion and initiatives to enhance operational flexibility,” said Air Astana CEO Peter Foster in a statement to the Astana Times.

One of the fastest-growing airline groups globally and the flagship carrier of Kazakhstan, Air Astana serves around eight million customers per year and operates 50 routes to 34 destinations around the world.

The Almaty-headquartered airline expanded its network last year to increase the number of flights offered to destinations in China, India, Central and Southeast Asia, the Middle East, and Europe. In 2019, Air Astana launched wholly owned subsidiary FlyArystan, a low-cost venture that operates flights to mostly shorter distance destinations in Asia and the Caucuses.