London Stock Exchange welcomes Kaspi.kz to the Main Market

Kaspi.kz, which operates the Kaspi.kz Super App, Kazakhstan’s most popular mobile app and the gateway to its market leading Payments, Marketplace and Fintech platforms, today celebrates its admission to the London Stock Exchange’s Main Market through trading on the International Order Book.  The company, trading under the ticker symbol KSPI.LI, achieved a market capitalisation of $6.5 billion on its first day of conditional trading through a dual listing on London Stock Exchange and Astana International Exchange.  

Mikheil Lomtadze, Chairman of the Management Board and co-founder of Kaspi.kz said: 

“The listing on London Stock Exchange and Astana International Exchange represents a major milestone for Kaspi.kz and Kazakhstan.  Kaspi.kz has always been at the forefront of Kazakhstan’s digitalisation and as we begin the next phase of our growth as a public company we remain as committed as we ever have been developing innovative mobile services that improve people's day-to-day lives. 

Our successful IPO is not only a strong validation of our future growth prospects but will allow some of the world's largest investors to join with us as we continue to play a leading role in Kazakhstan's rapidly evolving digital transformation. With the Kaspi.kz Super App, the country's most popular mobile app and the foundation for everything we do, we remain uniquely positioned to capitalise on the vast opportunities that Kazakhstan and its surrounding region has to offer, bringing ever more value to our consumers, merchants and shareholders."

Ayuna Nechaeva, Head of Europe, Primary Markets, London Stock Exchange said: 

‘We are delighted to welcome Kaspi.kz to the Main Market of London Stock Exchange. Kaspi.kz is the largest London listing by a company from Kazakhstan since 2007 and is the largest international technology-focused IPO in London this year to date. We congratulate the company on joining the London market, offering deep pools of liquid capital and a diverse international institutional investor base.’

About Kaspi.kz

Kaspi.kz is the largest Payments, Marketplace and Fintech Ecosystem in Kazakhstan with a leading market share in each of its key services and products. At the core of the Kaspi.kz Ecosystem is the Kaspi.kz Super App, the leading mobile app in the country with 7.8 million Monthly Active Users (“MAU”). 

The Kaspi.kz Super App serves as a single gateway to all of the Company’s services and is an integral part of people’s daily lives in Kazakhstan. As people’s lives become increasingly digitalised Kaspi.kz expects the usage of its Super App to grow, with the COVID-19 pandemic accelerating consumer adoption of cashless payments, e-Commerce and digital financial services.
Kaspi.kz is built around an ecosystem business model, where the growth and development of one service contributes to the growth and development of other services, creating a powerful virtuous cycle.  A growing number of services being used by the Company’s consumers results in synergies across all of its Platforms, structurally high profitability and creates a powerful self-reinforcing network effect, giving the Company strong competitive advantages.  

The Kaspi.kz Ecosystem currently comprises the following three market leading Platforms:

•    Payments Platform connects customers, which consist of both consumers and merchants, to facilitate cashless, digital payment transactions. The Company offers its customers a technology platform to both pay and receive payments for goods and services, as well as to transfer and withdraw money.  Consumers can transact with merchants and amongst themselves using a variety of services, including the Kaspi.kz Super App, a Kaspi Gold pre-paid debit card and/or any bank card or e-Wallet.

In June 2020, Kaspi.kz’s proprietary payment network transactions accounted for 66% of total payment network transactions in Kazakhstan, while other payment networks, including Visa and Mastercard, had an aggregate share of 34% of the total payment network transactions in the country. 

•    Marketplace Platform connects merchants and consumers, enabling merchants to increase their sales and enabling consumers to buy a broad selection of products and services from a variety of online and offline merchants.  The Company helps merchants increase their sales by linking them to its technology, payment options, including buy-now-pay-later consumer finance products, fulfilment, marketing and branding services.  

Kaspi.kz was the largest online retailer in Kazakhstan by sales value in 2019, with an e-Commerce gross merchandise value (“GMV”)  share corresponding to 46%  of the market.  The Marketplace Platform’s total GMV had a value share of total Kazakhstan retail trade of 5.5%  in 2019.

•    Fintech Platform enables consumers to access, primarily through Kaspi.kz Super App, the Company’s digital finance products, including consumer finance and deposits. Kaspi.kz’s buy-now-pay-later consumer finance products are also strategically integrated with its Marketplace Platform, which means that consumers are able to make a purchase seamlessly with financing and then pay over time in monthly instalments. 

In 2019 the Company enjoyed the largest market share of Consumer Loans in Kazakhstan, amounting to 32%. 

For more information on Kaspi.kz please visit https://ir.kaspi.kz

Quick facts

Track
Market: Main Market
Instrument market cap (£m)
-
Listing/Admission to trading
15 Oct 2020
Looking for new and recent issues?

More recent

75.32
London Stock Exchange welcomes Schroder British Opportunities Trust to the Premium Segment of the Main Market

Today London Stock Exchange markets were opened by Schroders to celebrate the listing of the Schroder British Opportunities Trust plc.

It is a new investment trust focused on investing in the future growth of British Business, both public and private, while supporting UK employment in the current challenging market conditions.
 
The Trust seeks to invest in high-qua

Learn more
75.24
London Stock Exchange welcomes BrandShield Systems Plc to AIM

London Stock Exchange welcomes BrandShield Systems Plc (“BrandShield” or the “Company”), a leading provider of cyber security solutions from brand protection to online threat hunting, to celebrate the listing of the Company's public shares onto AIM, under the ticker "BRSD".

BrandShield Systems has today completed the reverse takeover of Two Shields Investments plc ("Two Shields"), hav

Learn more
267.6
London Stock Exchange welcomes HSBC Global Asset Management to celebrate the listings of their suite of seven sustainable equity ETFs

Today London Stock Exchange markets were opened by HSBC Global Asset Management to celebrate the listings of their suite of seven Sustainable Equity ETFs.

HSBC Asia Pacific ex Japan Sustainable Equity UCITS ETF
HSBC Developed World Sustainable Equity UCITS ETF
HSBC Emerging Market Sustainable Equity UCITS ETF
HSBC Europe Sustainable Equity UCITS ETF
HSBC Ja

Learn more
115.716
London Stock Exchange Group Celebrates LSEG Foundation’s 10th Anniversary

Today, in addition to officially closing the celebration of LSEG Foundation's 10th Anniversary week, we are honouring our yearly Foundation Day. As part of the event, London Stock Exchange Group will donate the equivalent of two days’ trading fees from our markets, London Stock Exchange, Borsa Italiana and Turquoise to charity. Through LSEG Foundation, the funds raised will help support a wide

Learn more