15 October 2020

Kaspi shares rise after $870mn IPO  

Written By FinTech Alliance

Kaspi shares rise after $870mn IPO  

Kazakh FinTech Kaspi.kz floated on the London Stock Exchange this week.  

In Brief:  

  • The payments and ecommerce provider raised $870mn through its IPO.  

  • Shares rose by as much as 18% on its first day of trading.  

  • It's reached a market cap of $6.5bn.  

What does this mean?  

Last year Kaspi delayed its UPO because it wasn’t reaching what it felt was the right valuation. Now, despite economic uncertainty, the company has experienced growth particularly on its consumer-facing app.  

Read more here.   

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