Kazakh fintech giant Kaspi raised $1 billion during its IPO in the United States. Investors sold 11.3 million American depositary shares at $92 per share. Bloomberg writes about this.
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As the publication notes, the price when placed on the NASDAQ exchange was with a 5.3% discount from the closing level of Kaspi.kz global depositary receipts traded on the London Stock Exchange. Kaspi.kz is also listed on the Kazakhstan Stock Exchange and the Astana International Exchange.
Kaspi.kz has a market value of approximately $18 billion. The shares will be traded on the NASDAQ Global Select Market under the ticker KSPI. At the time of writing the news, the price of the share is $95.97.
The Kaspi.kz group, operating in Kazakhstan, offers the Kaspi.kz Super App mobile application for consumers with a diverse range of services, as well as the Kaspi Pay Super App for merchants and entrepreneurs. At the end of last year, the consumer app had an average of 13.5 million monthly active users.
The company said its net income was $1.27 billion on revenue of $2.83 billion for nine months.< /p>