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  3. Launches NASDAQ Roadshow for $873 Million IPO
Astana, Kazakhstan • 17 January, 2024 | 16:10
1 min read Launches NASDAQ Roadshow for $873 Million IPO aims to place 9 million American depositary shares

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Press service of

Kazakhstan's fintech holding has announced the initiation of a roadshow for an initial public offering (IPO) on the NASDAQ exchange, according to a document published by the company, QazMonitor reports.

At the IPO, aims to place 9 million American depositary shares (ADS), with each ADS equivalent to one ordinary share of the company. The offering will be made by Vyacheslav Kim, Mikhail Lomtadze, and Asia Equity Partners Limited.

The pricing of the initial public offering will be determined through the bookbuilding process and based on the closing price of the Global Depositary Receipt (GDR) on the pricing date of the offering.

According to the latest data from the London Stock Exchange (LSE), GDRs were trading at $97 per share at the time of writing. Preliminary calculations suggest that the funds raised from the IPO could reach $873 million.

Renaissance Capital estimates that if the securities are offered at $97, the market value of will be $18.4 billion. The price is expected to be set within a week from January 15, 2024, according to the provided information.

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