IPOs

Kazakh fintech pulls London IPO blaming ‘uncertain’ markets

Kaspi was reportedly seeking a $5bn valuation for a secondary share sale on the London Stock Exchange

Kaspi, a Kazakhstan-based technology firm, has pulled out of a possible flotation on the London Stock Exchange less than a month after filing its registration document.

Kaspi is an online platform that offers payments, ecommerce and financial services products. After declaring its intention to sell shares through a secondary offering on September 16, an article by the Financial Times suggested the company, founded in 2008, would seek a $5bn valuation.

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