Joint Stock Co Kaspi.kz

Joint Stock Co Kaspi.kz (KSPI) priced its initial public offering on Jan 19, 2024 at $92.00 per ADS, raising $1.04B, and listed on Nasdaq Global Select. At the IPO price its market capitalization was about $17.41B. Morgan Stanley was lead-left underwriter, joined by J.P. Morgan, Citigroup and Wolfe Research and others. Debevoise & Plimpton and Kinstellar advised the company and White & Case advised the underwriters.

Joint Stock Co Kaspi.kz is a Kazakhstan joint-stock company, based in Almaty, and parent of a banking group centered on Kaspi Bank. Its key operating subsidiaries include Kaspi Pay, Kaspi Travel, Kaspi Shop, Kaspi Office and Magnum E-commerce Kazakhstan.

Status

IPO

Ticker

KSPI

Exchange

Nasdaq Global Select

Priced

Jan 19, 2024

IPO price

$92.00 per ADS

Raised

$1.04B

Market cap at IPO price

$17.41B

First filed

Dec 28, 2023

Underwriters

Morgan Stanley, J.P. Morgan, Citigroup, Wolfe Research and Nomura

Company counsel

Debevoise & Plimpton and Kinstellar

Underwriters' counsel

White & Case

Sector

Business services

Country / state

Kazakhstan

Market cap at IPO price = shares outstanding after the offering (all classes, before the over-allotment option) × the IPO price, from the final prospectus.