Kaspi stock on LSE drops by 7%

Although the company has shown 1.2% growth on KASE

According to trading data from the London Stock Exchange, Kaspi stock dropped by 6.81% ($47.9). At the same time, the trading results Kaspi demonstrates on KASE are slightly better as the company is traded at $53.48 per share or +1.2% compared to Thursday.

Baurzhan Tulepov, head of analytics in Jusan Invest believes that the company will rebound in the long-term, even though this is hard to achieve right now because of a big project the company has bought in Ukraine.

In summer 2021, Kaspi announced the acquisition of Portmone, a payment service in Ukraine. Some analytics have estimated the deal at $10-15 million, while others believe Kaspi paid about $20 million. Last October, Kaspi also said that was going to buy 100% of BTA Bank Ukraine from Kenes Rakishev, a Kazakhstani mogul.

On June 16, Kaspi’s shares were traded at $45.4 (-6.8%) on LSE.  They dropped by 11.72% on KASE the next day.

“The key reason the stock is dropping on KASE is a big lap between price on LSE and KASE. The price on KASE was $57.8, while on LSE it was lower, at $45.4,” said Daniyar Orazbayev, an analyst from Freedom Finance.

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