The Kazakh fintech provider Kaspi.kz, backed by Goldman Sachs, is reviving a plan to sell shares in London after lockdowns to fight the spread of coronavirus pushed people to shop and bank online.
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Kazakh FinTech Group Revives London IPO Plan
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Kaspi.kz’s four owners plan to sell shares, and will all retain a stake after the listing, according to a statement Friday. Baring Vostok Capital Partners, the Moscow-based private equity fund set up by embattled U.S. investor Michael Calvey, owns 35% of the lender, board chairman Vyacheslav Kim owns 32%, Chief Executive Officer Mikheil Lomtadze has 29% and Goldman holds the remaining 4%. Morgan Stanley and Citigroup Inc. are the global coordinators and Renaissance Capital is the joint bookrunner, the company said.
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