JSC Kaspi.kz Kaspi.kz Completes Acquisition of Portmone Group (6261O)

TIDMKSPI

RNS Number : 6261O

JSC Kaspi.kz

11 October 2021

Kaspi.kz Completes Acquisition of Portmone Group

Kazakhstan, 11 October 2021 - JSC Kaspi.kz ("Kaspi.kz", "we", or the "Group") which operates the Kaspi.kz Super App, Kazakhstan's leading mobile Super App, today announces that is has received all necessary regulatory approvals and completed the acquisition of 100% of Portmone Group, a payments company operating in Ukraine.

Mikhail Lomtadze, Kaspi.kz CEO and co-founder, commented:

"With its payments licenses and substantial merchant and bank relationships, the acquisition of Portmone will allow Kaspi.kz to enter the Ukrainian market . The combination of high cash usage, high smartphone penetration and a population of 42 million, means Ukraine offers a substantial, multi-year digital growth opportunity. We believe Kaspi.kz, with its high-quality mobile products and Super App strategy can make a difference to the everyday lives of Ukrainian consumers and merchants."

The consolidation of Portmone Group does not affect Kaspi.kz's previously communicated 2021 financial guidance and is not expected to have any material impact on the group's 2021 financial results.

About Kaspi.kz

Kaspi.kz's mission is to improve people's lives by developing innovative mobile products and services. At our core is the Kaspi.kz Super App, the leading mobile app in Kazakhstan.

The Kaspi.kz Super App serves as a single gateway to our Payments, Marketplace and Fintech Platforms and is an integral part of our users' daily lives. As people's lives become increasingly digitalised, Super App usage is expected to grow supported by accelerating adoption of cashless payments, e-Commerce and digital financial services.

Kaspi.kz operates an Ecosystem business model, where the growth and development of one service contributes to the growth and development of other services, creating a powerful virtuous cycle. Increasing usage of a growing number of services puts Kaspi.kz in a strong position to keep innovating, delighting our users and fulfilling our mission.

Kaspi.kz has been listed on the London Stock Exchange since 2020.

For further information [e-mail] [phone]

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.

END

ACQUAOVRABURARA

(END) Dow Jones Newswires

October 11, 2021 02:00 ET (06:00 GMT)