Citibank and Air Astana Team Up for Cross-Border Financial Growth

Tuesday, February 20, 2024

Citibank serves as depositary bank for Air Astana’s GDR program, trading on LSE and AIX, enhancing global capital market access with its expertise.

Citibank, N.A., under its Issuer Services division, has been selected by Kazakhstan’s premier airline, Air Astana Group, to serve as the depositary bank for its Global Depositary Receipt (GDR) initiative.

The GDRs of Air Astana, adhering to Regulation S, are actively traded on the London Stock Exchange (LSE) with the ticker “AIRA” and on the Astana International Exchange (AIX) as “AIRA.Y” for Rule 144A GDRs, which are also identified by the ticker “AIRA”. Each GDR corresponds to four of the airline’s ordinary shares. Furthermore, the ordinary shares of Air Astana are listed and available for trading on both the AIX and the JSC Kazakhstan Stock Exchange (KASE) in Kazakhstan, using the symbol “AIRA”.

“We are delighted to be appointed by Air Astana as depositary bank for its GDR program,” said Dirk Jones, Global Head of Citi’s Issuer Services. “We are confident that we will be able to assist Air Astana in expanding their investor outreach through the support of our Investor Relations Advisory team and our extensive equity distribution network.”

As a prominent entity in offering depositary receipt services, Citi operates programs across 67 markets, covering both equity and debt instruments. Through its extensive global network, Citi facilitates access to international capital markets for issuers, brokers, and investors alike.

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