The Air Astana Group, which employs some 6,000 people, is the largest airline group in Central Asia and the Caucasus, operating over 94 routes across 21 countries through two leading brands: Air Astana, its full-service airline, and FlyArystan, its low-cost Carrier. The company operates at the heart of one of the fastest-growing aviation markets in the world.

Air Astana sought an ambitious target for its IPO: it would be the first company domestically and internationally to achieve simultaneous listing on three stock exchanges: the Kazakhstan Stock Exchange, Astana International Exchange and London Stock Exchange.

Given that it would be a world first, much was at stake and successfully communicating the company’s equity story to investors was of paramount importance.

Air Astana’s advisors, Citi Global Markets and Jefferies, appointed iRoadshow from Black&Callow to assist the company with hosting its IPO presentation to analysts, which was also video recorded and its Q&A session transcribed and edited by our iRoadshow teams as part of the company's critical IPO capital markets event. Air Astana’s iRoadshow was available 24/7 to investors and the platform’s detailed real-time reporting function provided the company and advisors with invaluable insight into all aspects of investor engagement and behaviour, leading to a more refined engagement strategy.

This strategy was successful and the company IPO’d in February 2024 at c.US$370m, valuing the group at c.US$847m.

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