On January 18, 2024, Kaspi.kz raised $1 billion in its US IPO, further cementing its status as the most valuable listed group in frontier Europe and Central Asia. Kaspi.kz’s market capitalization of $18Bn+ is 4.5x greater than its bigger Kazakh rival Halyk and 2.5x more than the combined equity value of all 35 banks in Uzbekistan.
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