September 23, 2019 / 6:43 AM / 24 days ago

Kazakhstan's Kaspi.kz aims for London listing in October

FILE PHOTO: The Kaspi Bank sign in seen on the bank's head office in Almaty, Kazakhstan, April 1, 2016. REUTERS/Shamil Zhumatov

LONDON (Reuters) - Kazakh financial group Kaspi.kz KSPI.KZ, which controls the Central Asian nation’s third-largest lender Kaspi Bank, said on Monday it expects its shares to start trading in London in October.

The company, which is a major player in Kazakh payment systems and e-commerce, confirmed its offering will consist of a sale of existing shares in the form of global depository receipts (GDRs).

Chairman Mikheil Lomtadze said the upcoming listing was “the next important step forward in the development of Kaspi.kz,” adding the company was keen to expand across Central Asia and the Caucasus region.

The selling shareholders include Baring Vostok, Goldman Sachs, Kaspi.kz board chairman Vyacheslav Kim, and Lomtadze.

Reporting By Pamela Barbaglia; Editing by Rachel Armstrong

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