Kazakh app firm’s record-breaking IPO sparks investor interest

Kaspi.kz IPO Raises $1 Billion on Nasdaq Stock Exchange

Kaspi.kz, a mobile app company, successfully launched its initial public offering (IPO) on the Nasdaq stock exchange, raising an impressive $1 billion. This IPO marks the largest offering since Birkenstock’s in October, which was valued at $1.48 billion. However, the market’s response to Kaspi.kz’s debut was relatively tepid, with shares trading only 0.5% above the offer price. Despite this, the company’s market value stands at an impressive $17.51 billion.