The airline Air Astana has repurchased 4.64 million common shares and global depositary receipts (GDR), achieving 97% of the planned first phase of the buyback program by the end of 2024, the company’s press service informed Interfax-Kazakhstan.
“As of December 31, 2024, the company has acquired 4,638,555 (shares - IF) in the form of common stocks and GDRs, which amounts to 97% of the maximum planned quantity for the incentive program (for employees - IF). This number of shares is sufficient to fulfill the distribution during the first stage of the incentive program,” the airline’s press service stated.
Further details about the second phase of the program will be communicated by Air Astana, said a company representative, without specifying the timeline.
As previously reported, Air Astana planned to buy back approximately 1.3% of the total number of issued shares during the first phase of the buyback program. This involved the purchase of 4,786,800 shares for a total amount not exceeding 12 million dollars. The first part of the program began on April 30, 2024, and was expected to conclude by February 8, 2025. The agents for the share buyback are JSC “Halyk Finance,” JSC “Freedom Finance,” and Freedom Finance Global PLC.
According to the Kazakhstan Stock Exchange (KASE), by December 30, 3.26 million shares had been repurchased for a total of 8.2 million dollars.
In May of last year, the Chairman of the National Bank, Timur Suleimenov, announced that the Unified Accumulative Pension Fund (UAPF) would not sell shares of Air Astana as part of the announced buyback.
Air Astana, the largest airline in Kazakhstan, conducted an IPO at the beginning of 2024, during which the company and its shareholders raised 370 million dollars, valuing the entire company at 847 million dollars.
According to KASE data, as of January 1, 2025, the company’s shareholders include the state fund “Samruk-Kazyna” (41%), British BAE Systems (16.95%), and the UAPF (6.51%).
It was previously reported that starting April 20, 2025, Air Astana will launch flights to India on the air route Almaty – Mumbai . Additionally, it is expanding its route network to China with a new flight to Guangzhou, starting on March 30, 2025. During the spring-summer navigation period, Air Astana will replace flights to Phu Quoc with a new seasonal destination in Nha Trang (Vietnam).