Tencent invests in fintech company Kaspi.kz, marking its first investment in Kazakhstan

Kaspi.kz stated in a declaration on Monday that Tencent, together with the company's management and long-term investors, has completed the acquisition of 6 million American Depositary Receipts (ADR) from Baring Vostok Financial Technology Venture Fund. This represents a 3.2% stake, valued at approximately $518 million based on Friday's trading price. Morgan Stanley provided advisory services for this transaction. This is Tencent's first investment in Kazakhstan and its second in Central Asia. Last year, Tencent led a round of equity financing for the Uzbek fintech and e-commerce company Uzum. (Bloomberg)