Kaspi.kz Sets High Expectations with 9M Share IPO

Kaspi.kz, a joint-stock company based in Kazakhstan, has filed for a 9M share IPO in the US, allowing the company to expand its investor base and raise capital for growth. The IPO price is expected to be determined based on the trading price of the company's GDRs on the LSE. Kaspi.kz has applied to have its ADSs listed on the Nasdaq Global Select Market and will redesignate its outstanding GDRs as ADSs. The underwriters have the option to purchase additional ADSs, providing further liquidity to the offering.