Kazakh Fintech to Buy Stake in Hepsiburada at 140% Premium (1)

Kazakhstan’s Kaspi.kz JSC will buy a controlling stake in e-commerce platform Hepsiburada for $1.13 billion in cash, in a deal that will expand its addressable market to 100 million people.

Kaspi.kz signed a definitive agreement to buy 65.4% of the Nasdaq-listed company, whose formal name is D-Market Electronic Services & Trading, from shareholders including founder Hanzade Dogan, the Kazakh fintech company said in a statement on Friday.

The deal values Hepsiburada at around $1.7 billion, about $1 billion more than its market capitalization at Thursday’s close. The company’s shares jumped 74% in premarket trading in New York on Friday. ...