Kaspi.kz brings more EM joy to London amid Brexit gloom

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By Aidan Gregory
16 Sep 2019

Kaspi.kz, the Kazakh payments group, is preparing to list global depositary receipts (GDRs) on the London Stock Exchange this autumn, as EM deals provide a brief glimmer of hope for the UK capital as Brexit volatility has killed the hopes of many UK issuers.

In a regulatory filing on Monday, Kaspi said that the sale would consist of GDRs sold by its shareholders. The sellers are Asia Equity Partners, Baring Vostok, Goldman Sachs, Vyacheslav Kim, the chairman of Kaspi, and Mikheil Lomtadze, the company’s CEO.

Each GDR represents one share listed on ...

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