Kaspi returns to market for second attempt at London IPO

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By Sam Kerr
25 Sep 2020

Kaspi, the Kazakh fintech and e-commerce firm, has returned to the IPO market for a second attempt at a London listing after cancelling last year's effort over valuation differences between investors and the sellers. Sources say that gap has been bridged and are confident of listing Kaspi this year.

Citi and Morgan Stanley are bookrunners on the deal. The 100% secondary sale will involve a sale of Global Depositary Receipts (GDRs) on the London Stock Exchange, each representing one ordinary share in Kaspi, which is listed on the Kazakhstan Stock Exchange.

Bookrunners described Kaspi as ...

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