Since Russia’s Yandex called off a deal to acquire online bank Tinkoff, the standout IPO of Kazakhstan’s financial technology and e-commerce leader has become the benchmark-setter.
Firm runs what's fast turning into country's de facto payments system. Central Asia's large unbanked population now offers great scope for building success upon success but the potential won't go unnoticed by rivals.
Firm valued at top of the range $6.5bn. Proceeds heading to billion dollars. Trading volume outdoes that of Russia’s Yandex.
Locals express long-held anger at what they see as companies from abroad benefitting unduly from country’s natural resources.
Sees opportunity in capitalising on valuation benchmark set by Russian technology firm Yandex’s plans to take over online bank Tinkoff for $5.5bn.