Kaspi.kz Investors Seek to Raise About $900 Million in US IPO

01/17/2024 09:12
Kaspi.kz Investors Seek to Raise About $900 Million in US IPO

Mobile app provider Joint Stock Co. Kaspi.kz’s shareholders are planning to sell 9 million American depositary shares in an initial public offering.

Mobile app provider Joint Stock Co. Kaspi.kz’s shareholders are planning to sell 9 million American depositary shares in an initial public offering.

At current prices, the shares would be valued at $873 million, according to the company’s filingBloomberg Terminal Tuesday with the US Securities and Exchange Commission. The selling shareholders include Chairman Vyacheslav Kim, Chief Executive Officer Mikheil Lomtadze and Asia Equity Partners Ltd., according to the filing. The company won’t receive any proceeds from the IPO.

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