Shares in LSE-listed Kazakh super-app Kaspi plummet as unrest continues (via _tommatsuda)
The stock hovered at $113.80 as markets opened on Wednesday but sharply dropped to as low as $71, before recovering slightly to above $80. At the time of writing,On Sunday, protests in Kazakhstan began when the government lifted a price cap on fuel. They have since intensified and, according to aNursultan Nazarbayev, who has remained a powerful figure in the government since stepping down.
Kaspi made its mark in the country as a super-app offering the ability to pay bills, transfer money and pay retailers, becoming the country’s in the process. The company tapped into a population with a large unbanked but increasingly online population, with an average internet penetration rate of 79%.going public in October 2020 at a $6 billion valuation.Vyacheslav Kim and Mikhail Lomtadze shot up to $2.5 billion and $2 billion respectively after the listing, which was the largest international tech IPO of 2020.
In 2017, according to Forbes, Satybaldy owned a 30% stake in Kaspi which he cashed out in 2019 after its first attempt to go public. Had he remained a controlling shareholder, as a politically powerful figure in Kazakhstan, the public listing would have likely drawn scrutiny from regulators. © 2021 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Troops, protesters clash in Kazakhstan as US, UN call for 'restraint'Violent protests in Kazakhstan over rising fuel prices resume as the US and UN urge Kazakh authorities to show 'restraint' in dealing with civil unrest
Les mer »
Following energy shortage, Kazakhstan is reining in 2021's stampede of crypto minersKazakh officials assure crypto miners that they will be able to continue operating as long as they report to regulators.
Les mer »
What to Watch: The Mass ChannelWill big-box retailers, such as Target and Walmart, continue to take share?
Les mer »
$200 Billion Evaporated From Crypto Markets as Bitcoin Drops to 3-Month Low (Market Watch)The entire cryptocurrency market has turned red today, with bitcoin plummeting by 10% to its lowest price point since late September.
Les mer »
Hundreds of Prescription Drugs Have Higher Prices in 2022drug prices, drug prices 2022, drug prices this year, drug prices increasing, medication prices increasing, drug prices usa, us drug prices, drug prices in the us, drug prices 2021, drug prices rising
Les mer »
The 2022 Carry Trade: GBP/JPY Surges Higher as Rates Differential Gains MomentumA decision by the Bank of England (BoE) in November to leave rates unchanged sent the pair spiraling, only to be made worse by the discovery on the Omicron variant. Get your market update from RichardSnowFX here:
Les mer »