Kazakh fintech firm Kaspi.kz prices share offer at top of range

Credit: REUTERS/PAVEL MIKHEYEV

Kazakh financial and technology company Kaspi.kz's share offering has been priced at $33.75 per GDR, the top of an indicative range, the Astana International Exchange (AIX) said on Thursday, citing bookrunner Renaissance Capital.

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ALMATY, Oct 15 (Reuters) - Kazakh financial and technology company Kaspi.kz's KSPI.KZ share offering has been priced at $33.75 per GDR, the top of an indicative range, the Astana International Exchange (AIX) said on Thursday, citing bookrunner Renaissance Capital.

That means the deal, carried out largely in London, valued Kaspi at $6.5 billion, the highest price tag of any Kazakh publicly listed company.

Books were multiple times covered at top-of-the-range pricing and on an upsized deal of 29.6 million GDRs for a deal size of $999 million, IFR, a Thomson Reuters news and market analysis service, reported this week.

Kaspi, which controls the third largest bank in Kazakhstan and runs a payments and ecommerce business, has reported a strong boost to the latter from the coronavirus pandemic and revived the listing plans shelved a year earlier when shareholders balked at the price.

(Reporting by Olzhas Auyezov; Editing by Muralikumar Anantharaman and Clarence Fernandez)

((olzhas.auyezov@thomsonreuters.com; +7 727 2508 500; Reuters Messaging: olzhas.auyezov.thomsonreuters.com@reuters.net))

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