European ECM suffers as US sell-off continues

By Sam Kerr
05 Mar 2021

European equity capital markets continued to reel from volatility across the Atlantic on Friday. A sell-off in tech stocks is making the block trade market difficult and a popular IPO suffered on its first day of trading.

On Thursday night a $400m sale of shares in Kaspi, the Kazakh payments company, was conducted, the first block trade since its $1bn IPO last year.

The selling shareholders were Baring Vostok Capital Partners, Goldman Sachs and Kaspi chairman Vyacheslav Kim. Citigroup and Morgan Stanley were the bookrunners.

The ...

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