Kaspi.kz hits $20 billion in market capitalization, emerging as Kazakhstan’s most valuable public company

There are several public companies in Kazakhstan with quite impressive capitalization / Photo: Ofeliya Zhakayeva, photo editor: Arthur Aleskerov

Kaspi.kz has reported its market cap at $20 billion, making it the most valuable public company listed on the Kazakhstan Stock Exchange (KASE), according to the Qazaq Association of Minority Shareholders (QAMS).

The rating further highlights:

KazMunayGas: $17.1 billion;
Kazatomprom: $9.9 billion;
Halyk Bank: $5.1 billion;
Kcell: $1.3 billion;
Kazakhtelecom: $909 million.

Notably, Air Astana ranked as the least valuable public company on the stock market index, with its stock valued at $550 million, according to KASE.

The combined value of 10 KASE-listed large-cap companies, including Bank CenterCredit, pipeline operator KazTransOil and the Kazakhstan Electricity Grid Operating Company (KEGOC), reached $57 billion. Kaspi.kz was priced at four times the value of Halyk Bank, while Kcell was 1.5 times as valuable as Kazakhtelecom.

Among the companies listed on Kazakhstan’s other stock exchange, the Astana International Exchange (AIX), Solidcore (formerly known as Polymetal) stands out. The company has a total of 473.6 million voting shares, each priced at $2.92, bringing its market cap to $1.38 billion.

The Fix Price retail chain, also listed on the AIX, has surpassed the $1 billion threshold. The company has issued a total of 850 million shares, each priced at $1.26.