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Kaspi.kz, super app company, has biggest IPO since Birkenstocks – Quartz

Kaspi.kz, super app company, has biggest IPO since Birkenstocks – Quartz

Kaspi.kz, a mobile app company, launched its initial public offering (IPO) on the Nasdaq stock exchange Friday, raising about $1 billion. On its first trading day, shares of Kaspi.kz debuted 0.5% above its offer price, valuing the company at $17.51 billion. But the market’s tepid response to Kaspi.kz’s debut, as the S&P 500 hit an all-time high, suggests that investors… 

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