n n n ‘. concat(e. i18n. t(“search. voice. recognition_retry”),’n
(Bloomberg) — Shareholders of mobile app provider Joint Stock Co. Kaspi. kz plan to sell nine million U. S. custody shares in an initial public offering.
Most Read from Bloomberg
Stock Futures Fall, Yields Rise After Retail Sales: Markets Wrap
Musk Presses Tesla’s Board of Directors for Another Massive Stock Award
Apple to Allow External App Invoices After U. S. Ruling
A cautious world prepares for Trump’s return to the White House
China Population Extends Record Drop on Covid Deaths, Low Births
At current prices, the shares would be valued at $873 million, according to the company’s filing Tuesday with the U. S. Securities and Exchange Commission. The selling shareholders include Chairman Vyacheslav Kim, Chief Executive Officer Mikheil Lomtadze and Asia Equity Partners Ltd. , according to the filing. The company will receive the proceeds from the IPO.
Kaspi. kz, which operates in Kazakhstan, offers Kaspi. kz Super App, a mobile app for customers with a wide range of services, and Kaspi Pay Super App for merchants and entrepreneurs. The customer app had an average of 13. 5 million active users per month. as of Sept. 30, according to the filing.
On Tuesday, the company’s global depository receipts were priced at $97 on the London Stock Exchange, according to the filing. After the initial public offering, the company would have a market value of about $18 billion based on notable stock and receipts shown in its filings.
Kaspi. kz said it made a profit of $1. 27 billion on cash inflow of $2. 83 billion for the nine months ended September 30.
U. S. equity led by Morgan Stanley and JPMorgan Chase
Most Read from Bloomberg Businessweek
The Japanese market is coming back to life, with the old ones leading the way
Elon moves to the right; Hertz abandons Tesla
There is a poisonous worker and the CEO ignores the problem
Chinese tycoon bounces back after $10 billion debt deal
Patti LaBelle Goes From Level to Cooking with a Recipe for Success
©2024 Bloomberg L. P.