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