Tencent Invests in Kaspi.kz Alongside Co-Founder & CEO Mikheil Lomtadze and Long-Term U.S. Institutional Investors

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.

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.

Argus Apr 20 session

+8.13% close to close Open Argus

Details

News Market Reaction – KSPI

In the Apr 20 session, KSPI gained 8.13%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Market Context

The stock moved +8.1% in the session following this news. A strong positive reaction aligns with the...

Analysis

The stock moved +8.1% in the session following this news. A strong positive reaction aligns with the strategic nature of Tencent and other long-term investors buying 6.0 million ADSs. Historically, Kaspi.kz has seen sizeable gains around financial and growth-related updates, such as the 10.5% move on FY 2025 results. However, prior insider selling and past divergences on shareholder-meeting news mean sentiment can shift quickly if expectations change or liquidity dynamics evolve.

Key Figures

ADSs purchased: 6.0 million ADSs Share price: $84.91 Daily move: 4.53% +5 more

ADSs purchased

6.0 million ADSs

Block purchase from Baring Fintech Venture Funds

Share price

$84.91

Pre-news current price for KSPI

Daily move

4.53%

Pre-news 24h price change

Volume today

612,397 shares

Pre-news trading volume

Avg 20-day volume

465,569 shares

20-day average volume

52-week high

$99.20

KSPI 52-week range high

52-week low

$68.59

KSPI 52-week range low

200-day MA

$79.47

Pre-news 200-day moving average

Historical Context

5 past events · Latest: Apr 16

5 events

1. Apr 16

   AGM results, dividend

   24h Move

   -1.1%

   AGM approvals including 2025 financials and KZT 850 per-share dividend.

2. Apr 13

   Earnings date set

   24h Move

   +6.2%

   Scheduled Q1 2026 results and investor call on May 11.

3. Mar 16

   Annual report filing

   24h Move

   +3.9%

   Filed 2025 Form 20-F and made it available to investors.

4. Mar 04

   AGM notice, dividend

   24h Move

   -2.1%

   Announced AGM with agenda including 850 KZT dividend and options.

5. Mar 02

   Earnings, expansion

   24h Move

   +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.

Key Terms

american depositary shares

1 terms

american depositary shares financial

"completed the purchase of 6.0 million American Depositary Shares (ADSs) from Baring..."

American depositary shares (ADSs) are a way for investors in the United States to buy shares of foreign companies without dealing with international markets directly. They represent ownership in a foreign company's stock and are traded on U.S. stock exchanges, making it easier for American investors to buy, sell, and own parts of companies from around the world.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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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 86% stake in Hepsiburada, one of the country’s leading e-commerce platforms. 

Kaspi.kz has been listed on Nasdaq since January 2024.

For further information David Ferguson, david.ferguson@kaspi.kz +44 7427 751 275

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Kaspi.kz (KSPI) announce on April 20, 2026 about Tencent's investment?

Tencent purchased shares alongside management and institutions in a secondary transaction of 6.0 million ADSs. According to the company, the ADSs were bought from Baring Fintech Venture Funds, bringing Tencent and long-term investors onto Kaspi.kz's shareholder register.

How many Kaspi.kz (KSPI) ADSs were purchased in the April 20, 2026 transaction?

A total of 6.0 million ADSs were purchased in the transaction. According to the company, those ADSs were acquired from Baring Fintech Venture Funds by Tencent, management and long-term institutional investors.

Did Kaspi.kz (KSPI) issue new shares in the Tencent investment on April 20, 2026?

No, the transaction involved a secondary sale of ADSs from Baring Fintech Venture Funds, not a primary issuance. According to the company, the sale was completed with Morgan Stanley advising the Funds.

Which institutional investors joined Kaspi.kz (KSPI) as long-term shareholders on April 20, 2026?

Washington University and WISIMCO / University of Wisconsin Foundation joined as long-term U.S. institutional shareholders. According to the company, these endowments invested alongside Tencent and management in the ADS purchase.

What does management's purchase alongside Tencent mean for Kaspi.kz (KSPI) investors?

Management and the CEO investing indicates strong internal confidence in the company's strategy and growth. According to the company, this reinvestment complements Tencent's strategic stake and adds governance-aligned capital.