<div id="readability-page-1"><div> Britain's BAE Systems said on Tuesday it will cut its stake in Kazakh carrier Air Astana by nearly half. The aircraft maker, which currently holds about 16.95% stake in Air Astana, is selling global depository receipts representing about 8% of the company's outstanding common shares.BAE, whose main business is making fighter jets and submarines, invested less than $10 million in 2001 to help fund Air Astana's launch at a time when it was bidding to sell a radar system to Kazakhstan.The company reduced its stake in Air Astana from 49% last year after it floated its dual IPO in London and Kazakhstan.Following the latest sale, BAE Systems is expected to maintain its position as the second-largest shareholder in Air Astana, according to LSEG data.</div></div>

BAE Systems announced it will reduce its stake in Kazakh carrier Air Astana by nearly half, selling global depository receipts representing about 8% of the company's shares. BAE, which initially invested less than $10 million in 2001, had already reduced its stake from 49% last year. Despite the sale, BAE will remain the second-largest shareholder in Air Astana.

BAE Systems halves stake in Kazakh carrier Air Astana