The Kaspi Bank logo in seen at the bank's branch in Almaty, Kazakhstan October 7, 2019. REUTERS/Pavel Mikheyev/File Photo
(Reuters) -Kaspi.kz was valued at $17.51 billion when its shares debuted 0.5% above their offer price on Friday, a day after the Kazakhstan-based banking and fintech giant fetched $1 billion for its investors in an upsized IPO.
The lukewarm reception, especially on a day when the benchmark S&P 500 index was just shy of a record close, indicated investor caution around new listings was firmly in place, spilling into 2024 after almost two years of sluggish U.S. IPO markets.
