The Astana International Exchange (“AIX”, “Exchange”) is pleased to announce that the global depositary receipts (GDRs) of Kazakhstan’s leading fintech company Kaspi.kz have been listed on AIX as of 15 October, 2020, and admitted to trading starting from 22 October, 2020.
Kaspi.kz’s initial public offering (IPO) on the London Stock Exchange and AIX valued the company at $6.5 billion, making it Kazakhstan’s most valuable publicly traded company. The IPO targeted institutional investors only. Renaissance Capital acted as a Joint Bookrunner and Sole Lead Manager of the AIX tranche.
Tim Bennett, CEO of AIX, said:
“We are pleased to welcome Kaspi.kz to AIX. This IPO demonstrates the potential of private Kazakhstani high-tech companies and opens the way for other issuers. It also indicates the need for further development of an integrated capital market in the country, the beneficiaries of which are both financial institutions and ordinary citizens.”
Kaspi.kz operates the Kaspi.kz Super App, Kazakhstan’s most popular mobile app with 7.8 million monthly active users. Its Super App serves as a single gateway to the Kaspi.kz ecosystem and market leading Payments, Marketplace and Fintech platforms. Consumer adoption of cashless payments, e-Commerce and digital financial services in Kazakhstan is accelerating and as people’s daily lives become ever more digitalised the importance of Kaspi.kz’s products and services are only expected to increase.
AIX was formed in 2017 within the Astana International Financial Centre development framework. AIX shareholders are AIFC, Goldman Sachs, the Shanghai stock exchange, the silk Road Fund, and NASDAQ, which also provides the AIX trading platform. The exchange operates within a regulatory environment based on the principles of English common law, thus providing a reliable investment environment. The mission of AIX is to develop an active capital market in Kazakhstan and the region by providing clear and favorable conditions for attracting financing to private and public businesses. AIX develops special segments for mining companies as well as infrastructure projects under the Belt and Road initiative. More details: www.aix.kz
AIFC. The Astana International Financial Centre was created by the initiative of the First President of the Republic of Kazakhstan, Leader of the Nation, Nur-Sultan Nazarbayev as part of the “100 steps to implement five institutional reforms” national program. The Centre’s development strategy until 2025 was approved by the Management council of the AIFC during the council’s meeting on July 2, 2020. In accordance with the strategy, the vision of AIFC is in becoming the leading financial centre in the region that includes Central Asia, the Caucasus, EAEU countries, western China, Mongolia, and Eastern Europe. The mission of the AIFC is in assisting the sustainable and long term development of the region. As the head of state Tokayev noted, “AIFC, with its unique opportunities, can act as a universal platform that connects the countries in the region.” The strategic directions for the sustainable development of the AIFC include the development of a circular economy, financial technologies, and “digital financial centre.” www.aifc.kz