Kaspi excites investors willing to overlook country risk

By Sam Kerr
03 Oct 2019

Kaspi.kz, the largest payments and e-commerce company in Kazakhstan, announced on Monday that it would proceed with an IPO on the London Stock Exchange (LSE) after filing a registration document last week.

CitiCredit SuisseMorgan Stanley and UBS are global co-ordinators, and Renaissance Capital is a bookrunner.

The deal will consist of global depositary receipts (GDRs). The sellers are Asia Equity Partners; Baring Vostok; Goldman Sachs; Kaspi’s chairman Vyacheslav Kim and its chief executive Mikheil Lomtadze.

Each GDR represents one share already ...

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