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.
Citi, Credit Suisse, Morgan 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