Tencent Invests in Kaspi.kz Alongside Co-Founder & CEO Mikheil Lomtadze and Long-Term U.S. Institutional Investors
Rhea-AI Summary
Kaspi.kz (Nasdaq: KSPI) announced that Tencent, CEO and co-founder Mikheil Lomtadze, senior management and long-term U.S. institutional investors bought 6.0 million ADSs from Baring Fintech Venture Funds on April 20, 2026.
This transaction brings a strategic cornerstone investor, management reinvestment and university endowments as long-term shareholders while Morgan Stanley acted as exclusive financial advisor to the sellers.
Positive
- Tencent becomes a major strategic shareholder
- Management reinvestment by CEO and senior team signals conviction
- Purchase of 6.0 million ADSs from Baring Fintech Venture Funds
- Long-term U.S. institutional investors (Washington University, University of Wisconsin Foundation) joined
Negative
- None.
News Market Reaction – KSPI
In the Apr 20 session, KSPI gained 8.13%, reflecting a notable positive market reaction. Argus tracked a peak move of +9.9% during that session. Our momentum scanner triggered 40 alerts that day, indicating elevated trading interest and price volatility.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| Apr 16 | AGM results, dividend | Positive | -1.1% | AGM approvals including 2025 financials and KZT 850 per-share dividend. |
| Apr 13 | Earnings date set | Positive | +6.2% | Scheduled Q1 2026 results and investor call on May 11. |
| Mar 16 | Annual report filing | Neutral | +3.9% | Filed 2025 Form 20-F and made it available to investors. |
| Mar 04 | AGM notice, dividend | Positive | -2.1% | Announced AGM with agenda including 850 KZT dividend and options. |
| Mar 02 | Earnings, expansion | Positive | +10.5% | Reported FY 2025 growth, Türkiye expansion plans, and proposed dividend. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Recent news shows strong positive reactions to earnings and financial updates, while shareholder-meeting items like AGM notices and results have sometimes seen negative price responses.
Over the last two months, Kaspi.kz has focused on financial reporting, shareholder actions, and expansion. FY 2025 results on Mar 2 drove a 10.5% gain, with revenue up 19% YoY and net income up 10% YoY. Subsequent AGM-related notices on Mar 4 and results on Apr 16 included a dividend of KZT 850 per share but produced modest declines. The upcoming Q1 2026 report, announced on Apr 13, saw a 6.21% rise, underscoring the market’s focus on earnings and growth, which frames today’s strategic investment news.
Key Terms
AI-generated analysis. How Rhea-AI works. Not financial advice.
ALMATY, Kazakhstan, April 20, 2026 (GLOBE NEWSWIRE) -- Kaspi.kz (Nasdaq: KSPI) today announced that Tencent, Kaspi.kz Co-Founder and CEO Mikheil Lomtadze, key members of the senior management team, and long-term institutional investors have completed the purchase of 6.0 million American Depositary Shares (ADSs) from Baring Fintech Venture Funds (the “Funds”).
Mikheil Lomtadze, CEO and Co-Founder of Kaspi.kz, commented:
“Tencent pioneered the super app ecosystem business model, and we have long admired its ability to combine innovation at scale with disciplined execution. We are delighted to welcome Tencent as one of Kaspi.kz’s largest shareholders.
My own investment, together with those of key members of our senior management team, reflects our strong belief in Kaspi.kz’s Super App business model, long-term strategy and future growth opportunities.
We are also pleased to welcome Spice Expeditions, a globally focused fintech investment firm, and the U.S. university endowments of Washington University and WISIMCO / University of Wisconsin Foundation, as long-term shareholders.
The combination of strategic, management and highly respected institutional capital comes at an exciting time for Kaspi.kz as we build on our market leadership in Kazakhstan and expand into Türkiye.”
Morgan Stanley acted as exclusive financial advisor to the Funds on the transaction.
About Kaspi.kz
Kaspi.kz’s mission is to improve people’s lives by developing innovative mobile products and services.
Kaspi.kz operates a unique two-sided Super App model, serving more than 25 million consumers and 900 thousand merchants across Kazakhstan and Türkiye. In Kazakhstan, our Super App seamlessly integrates payments, e-commerce, e-grocery, fintech, travel, classifieds and government services. This comprehensive offering is deeply relevant to users’ daily lives, driving exceptional engagement with 77 monthly transactions per active consumer. In Türkiye, Kaspi.kz owns an
Kaspi.kz has been listed on Nasdaq since January 2024.
For further information David Ferguson, david.ferguson@kaspi.kz +44 7427 751 275
