Kazakh bank Kaspi. kz raised $1 billion during an initial public offering on the US Nasdaq market. Shareholders sold more than expected, Bloomberg believes.

Kazakh bank Kaspi raised $1 billion during US IPO

According to the agency’s interlocutors, on January 18 they sold 11.3 million American Depositary Shares (ADS) of Kaspi.kz at $92 per share. Previously, it was planned to place 9 million ADS. The organizers of the placement, according to Bloomberg, were Morgan Stanley, JPMorgan and Citigroup. Kaspi.kz shares will begin trading in the United States on January 19.

The bank filed an application for an IPO in the United States in October 2023. The organization’s proceeds are already traded on two exchanges: in London and Almaty.

Kaspi.kz is a Kazakh technology company that combines a bank, marketplace and other services.

Author:

Karina Pardaeva

Source: RB

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I am a professional journalist and content creator with extensive experience writing for news websites. I currently work as an author at Gadget Onus, where I specialize in covering hot news topics. My written pieces have been published on some of the biggest media outlets around the world, including The Guardian and BBC News.

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