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BAE Systems to Cut Stake in Kazakh Carrier Air Astana

MT Newswires·12/16/2025 23:54:26
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11:54 PM EST, 12/16/2025 (MT Newswires) -- BAE Systems' (BA.L) unit in Kazakhstan launched an offering for global depositary receipts representing an 8% stake in Kazakh carrier Air Astana, according to a Tuesday filing. The subsidiary, which owns a 16.95% stake in the carrier, is offering the GDRs to institutional investors via an accelerated bookbuild process. Each GDR represents four shares in Air Astana. Jefferies International is the sole global coordinator of the offering, as well as joint bookrunner with Wood & Co. Financial Services.