© Reuters.
ALMATY – Kaspi.kz, a leading fintech company in Kazakhstan, successfully launched its initial public offering (IPO) today, raising $1 billion. The company’s shares made their stock market debut at an opening price of $92.50, a notch above the IPO price of $92. This initial trading price places the company’s market valuation at approximately $17.51 billion.
The IPO resulted in substantial profits for key shareholders of Kaspi.kz. CEO Mikhail Lomtadze, Chairman Vyacheslav Kim, and the investment firm Asia Equity Partners, all major stakeholders, benefited from the offering. Notably, none of these shareholders reinvested their proceeds back into the company as part of the IPO process.
The public listing of Kaspi.kz marks a significant milestone for the company, which has established a strong presence in Kazakhstan’s digital payment and e-commerce sectors.
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