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Kazakhstan's Kaspi plans London listing for October

FILE PHOTO: The Kaspi Bank logo in seen at the bank's branch in Almaty, Kazakhstan October 7, 2019. REUTERS/Pavel Mikheyev/File Photo

LONDON (Reuters) - Kazakh banking and fintech firm Kaspi.kz said on Friday its proposed listing on the London Stock Exchange should go ahead this month.

The company, which controls the third largest bank in Kazakhstan and operates a payments and ecommerce business, said it plans to sell new and existing shares by listing its Global Depositary Receipts (GDRs) on the London Stock Exchange.

The company did not say what stake its shareholders intended to sell or how much they were looking to raise. Previously, sources told Reuters it was aiming for $500-700 million.

Kaspi.kz decided to try again for a London listing, selling shares including those held by current owners including Baring Vostok funds, Goldman Sachs, board chairman Vyacheslav Kim, and management including Chief Executive Mikheil Lomtadze, after abandoning plans a year ago.

Reporting by Clara Denina; Editing by Rachel Armstrong

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