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LONDON, Sept 25 (Reuters) – Kazakh banking and fintech agency Kaspi.kz introduced on Friday it intends to record on the London Stock Change, reviving plans it deserted a yr in the past.
The corporate, which controls the third largest bank in Kazakhstan and operates a funds and ecommerce enterprise, mentioned it plans to promote shares held by house owners together with Baring Vostok funds, Goldman Sachs, Kaspi.kz board chairman Vyacheslav Kim, and its chief government, Mikheil Lomtadze.
Reuters reported on Thursday that Kaspi.kz had determined to attempt once more for a London itemizing after Yandex’s deliberate buy of Russian on-line bank Tinkoff established a comparative valuation.
Kaspi’s common cellular app has made it a family title within the oil-rich Central Asian nation of 19 million. However it sought to emphasize in its assertion the rising share of non-bank revenue in its consolidated revenue which comes from ecommerce and funds, sectors boosted by the pandemic.
The corporate didn’t say what stake its shareholders meant to promote or how a lot they have been seeking to increase. Beforehand, sources informed Reuters it was aiming for $500-700 million.
Kaspi mentioned it will additionally supply its shares on the Astana Worldwide Change.
Morgan Stanley and Citigroup are appearing as joint international coordinators of the deal and, together with Renaissance Capital, as joint bookrunners. (Reporting by Rachel Armstrong and Olzhas Auyezov; modifying by Carolyn Cohn and Jason Neely)