Joint Stock Company Kaspi.kz (KSPI) Announces Proposed IPO

Joint Stock Company Kaspi.kz (NASDAQ: KSPI) has filed for a proposed IPO.

The company describes itself as: "Our mission is to improve people’s daily lives by developing innovative, highly relevant, world-class mobile services.

We operate a two-sided Super App business model which we believe is unique: the Kaspi.kz Super App for consumers and the Kaspi Pay Super App for merchants and entrepreneurs. The Kaspi.kz Super App is Kazakhstan’s most recognized consumer mobile app, according to KResearch, with 13.5 million average monthly active users (“Average MAU”) as of September 30, 2023, 65% of whom access our services daily (“Average DAU”), which is one of the highest levels of daily engagement among selected major mobile applications globally as of June 30, 2023, according to the ADL Report. "

Morgan Stanley, J.P. Morgan and Citigroup will serve as lead underwriters.

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