Kaspi.kz Files for IPO with Morgan Stanley, J.P. Morgan, Citigroup


  • Kaspi.kz (KSPI), a Joint Stock Company, is making preparations for an IPO.
  • The Kaspi.kz Super App holds a significant presence in Kazakhstan’s mobile app market, reflected in its high average daily and monthly active user counts.
  • Morgan Stanley, J.P. Morgan, and Citigroup are slated to handle the IPO process.

Details on Kaspi.kz’s Proposed IPO

The Joint Stock Company, Kaspi.kz, indicated as KSPI, has announced its intention to undertake an initial public offering (IPO).

About Kaspi.kz

Kaspi.kz plays a substantial role in improving the daily life of people by engaging in the development of ground-breaking, highly pertinent, and best-in-class mobile services. By operating a unique two-sided Super App business model comprising the Kaspi.kz Super App for the general consumers and the Kaspi Pay Super App specifically designed for merchants and entrepreneurs, it sets itself apart in it’s space.

Kaspi.kz’s Significant Market Presence

This Super App is a prominent figure in Kazakhstan’s consumer mobile app market, as suggested by KResearch, boasting an average of 13.5 million monthly active users (Average MAU) and a daily engagement of 65% of these users (Average DAU). This level of involvement is benchmarked as one of the apex levels of daily engagement globally among prominent mobile applications, as of mid-2023, cites the ADL Report.

Underwriters for the IPO

Investment banking giants like Morgan Stanley, J.P. Morgan, and Citigroup will be undertaking the role of lead underwriters for this IPO.

Implications for Forex and Trading

The successful execution of this proposed IPO and the performance of KSPI in the market could potentially create new avenues for trading and might have implications on the forex market.

PIP Penguin