Kaspi.kz (KSPI): 10 Best IPO Stocks to Buy in 2026

Joint Stock Company Kaspi.kz (NASDAQ:KSPI) is one of the best IPO stocks to buy in 2026. On April 24, Kaspi.kz announced the successful issuance of $600 million in senior unsecured notes due in 2031. This transaction marks the company’s second international offering since achieving investment-grade status, carrying ratings of Baa3 from Moody’s and BBB- from Fitch. The offering was highly sought after, with demand from ~130 institutional investors leading to the transaction being 3.5x oversubscribed.

The notes carry a 5.900% coupon, payable semi-annually, with a 5-year tenor and a settlement date of April 28. Management intends to use the proceeds for general corporate purposes to further support the company’s liquidity position. The deal was orchestrated by Citigroup and JPMorgan acting as Joint Lead Managers and Joint Bookrunners, alongside BCC Invest as the Kazakhstan Manager.

1Q26 Ariel Appreciation Fund Quarterly Commentary

CEO Mikhail Lomtadze noted that the strong investor interest reflects significant confidence in Joint Stock Company Kaspi.kz’s (NASDAQ:KSPI) cash generation and operational strategy. Beyond reinforcing its market leadership in Kazakhstan, the company is focused on accelerating its business growth in Türkiye and expanding its digital service ecosystem.

Joint Stock Company Kaspi.kz (NASDAQ:KSPI) provides payments, marketplace, and fintech solutions for consumers and merchants. It operates in three segments: Payments, Marketplace, and Fintech.

While we acknowledge the risk and potential of KSPI as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and doing so within a shorter time frame. If you are looking for an AI stock that is more promising than KSPI and that has 10,000% upside potential, check out our report about this cheapest AI stock.

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