NEW YORK, Oct. 17, 2024 (GLOBE NEWSWIRE) -- Leading securities law firm the Rosen Law Firm announces an investigation into Joint Stock Company Kaspi.kz (NASDAQ: KSPI) for potential violations of the federal securities laws. If you invested in KSPI, you are encouraged to obtain additional information by visiting https://rosenlegal.com/submit-form/?case_id=29172. Why did KSPI's stock drop? On September 19, 2024, Culper Research issued a report entitled "Kaspi.kz (KSPI): The NASDAQ-Listed Fintech Moving Money ...

Kazakhstan's dominant 'super-app' Kaspi ( OTC:KSPI ) has come a long way since its commercial banking roots. But all of that seems to have been forgotten over the last week or so following a report by short-seller Culper Research (see Analyst's Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensati ...

NEW YORK, Sept. 26, 2024 (GLOBE NEWSWIRE) -- Why: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Joint Stock Company Kaspi.kz (NASDAQ: KSPI) resulting from allegations that Kaspi.kz may have issued materially misleading business information to the investing public. So What: If you purchased Kaspi.kz securities you may be entitled to compensation without payment of any out of pocket fees or costs through a contingency ...

NEW YORK, Sept. 25, 2024 (GLOBE NEWSWIRE) -- Attorney Advertising--Bronstein, Gewirtz & Grossman, LLC is investigating potential claims on behalf of purchasers of Joint Stock Company Kaspi.kz ("Kaspi" or "the Company") (NASDAQ: KSPI). Investors who purchased Kaspi securities are encouraged to obtain additional information and assist the investigation by visiting the firm's site: bgandg.com/KSPI. Investigation Details On September 19, 2024, Culper Research published a report alleging, among other things, tha ...

Core Insights - Kaspi.kz aims to enhance people's lives through innovative mobile products and services, operating a unique two-sided Super App model for consumers and merchants [1][16] Business Overview - The company generates 99.6% of its revenue from Kazakhstan, with the remainder from Azerbaijan and Ukraine [3][8] - Kaspi Bank, a subsidiary, is one of the largest financial institutions in Kazakhstan, operating under strict regulatory supervision [3][9] Regulatory Compliance - Kaspi.kz has comprehensive policies to avoid working with consumers or companies on international sanctions lists [3][5] - The company performs "know your customer" (KYC) processes for all consumers and merchants, ensuring compliance with local regulations [4][9] Financial Performance - In 2023, total revenue reached approximately KZT 1,913,490 million (around $4,210 million), showing significant growth from previous years [8] - The company's classifieds business in Azerbaijan generated KZT 3,742 million in revenue in 2023, with a compound annual growth rate (CAGR) of 46% from 2020 to 2023 [12] Market Position - Kaspi.kz Super App is the most popular mobile app in Kazakhstan, with 14 million monthly active users (MAU) in 2023 [17] - The Kaspi Pay Super App serves as a digital partner for 581,000 merchant partners in Kazakhstan [17] E-Grocery Expansion - In February 2023, Kaspi.kz acquired a 90.01% share in Magnum E-Commerce Kazakhstan, committing to invest KZT 70,000 million over three years for development [13][14] - The e-Grocery segment saw a 111% year-over-year increase in gross merchandise value (GMV) during the first half of 2024, reaching around KZT 56,900 million [14]

ALMATY, Kazakhstan, Sept. 23, 2024 (GLOBE NEWSWIRE) -- Kaspi.kz (KSPI US) will report its financial results for the quarter and nine months ended September 30, 2024, on Monday, 21st October, 2024. On that day, management will hold a conference call and webcast at 8.00am EST (1pm GMT, 5.00pm Astana time) to review and discuss the company's results for the period. 3rd Quarter & 9 months 2024 Financial Results Conference Call Monday, 21st October, 2024 To pre-register for this call, please go to the following ...

ALMATY, Kazakhstan, Sept. 19, 2024 (GLOBE NEWSWIRE) -- The company is issuing the following statement following the research report published by Culper Research today: In our view, the report is misleading, inaccurate and misrepresents our business. Being the first company from Kazakhstan to successfully list on Nasdaq has obviously raised our profile amongst short sellers. For those investors who have known us over the years, our reputation speaks for itself. About Kaspi.kz Kaspi.kz's mission is to improve ...

ALMATY, Kazakhstan, Sept. 19, 2024 (GLOBE NEWSWIRE) -- Kaspi.kz has received its first international credit rating. Fitch rates Kaspi.kz investment grade BBB- with a stable outlook. This rating is separate from Kaspi Bank, a component of Kaspi.kz's Fintech Platform, which has been tracked by international rating agencies for many years. Fitch also rates Kaspi Bank investment grade BBB- with a stable outlook. According to Fitch, the rating reflects Kaspi.kz's unique business profile, leading nationwide franc ...

ALMATY, Kazakhstan, Sept. 13, 2024 (GLOBE NEWSWIRE) -- Moody's has upgraded its long-term deposit ratings to investment grade Baa3 from Ba1 with a stable outlook for Kaspi Bank, a core part of Kaspi.kz's Fintech Platform. Moody's cited sound profitability, liquidity and the resilience of Kaspi.kz's proven business model including Fintech, Payments and Marketplace Platforms. According to Moody's: Kaspi.kz's proven business model has demonstrated resilience throughout the economic cycle. Kaspi.kz has sound fu ...

ALMATY, Kazakhstan, Aug. 27, 2024 (GLOBE NEWSWIRE) -- Joint Stock Company Kaspi.kz ("Kaspi.kz") has sent a formal letter of interest to Uzbekistan's State Assets Management Agency ("SAMA"), indicating its interest in participating in the upcoming privatization of the National Interbank Processing Center ("Humo"). SAMA has unveiled plans to privatize a 100% stake in the Humo payment system via a public negotiation process. Humo is one of two payment systems in Uzbekistan and enables all aspects of the paymen ...