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Jan 19, 2024
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An app company in Kazakhstan just had the biggest IPO since Birkenstocks

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Kaspi.kz, a mobile app company, launched its initial public offering (IPO) on the Nasdaq stock exchange Friday, raising about $src billion. On its first trading day, shares of Kaspi.kz debuted 0.5% above its offer price, valuing the company at $src7.5src billion. How to Save Money in 2024: Step-by-Step Guide | Your Wallet But the market’s

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Business * Kaspi.kz, a mobile app company, launched its initial public offering (IPO) on the Nasdaq stock exchange Friday, raising about $src billion. On its first trading day, shares of Kaspi.kz debuted 0.5% above its offer price, valuing the company at $src7.5src billion.

How to Save Money in 2024: Step-by-Step Guide | Your Wallet

But the market’s tepid response to Kaspi.kz’s debut, as the S&P 500 hit an all-time high, suggests that investors are still feeling cautious about new stock listings.

It is the largest IPO since Birkenstock’s in October, which was valued at $src.48 billion listing. But the shoemaker is trading below its debut share price.

Kaspi.kz has been listed on the London Stock Exchange since 2020. Kaspi.kz is also listed on both the Kazakhstan Stock Exchange and the Astana Internat

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