Kaspi.kz Is Positioned to Become the Main Shareholder of Türkiye’s Hepsiburada

2 min read | October 18, 2024 03:50 AM PDT | By Team Kalkine Media

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Kaspi.kz Is Positioned to Become the Main Shareholder of Türkiye’s Hepsiburada — Image source: Shutterstock

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Highlights:

Strategic Acquisition: Kaspi.kz has entered into an agreement to acquire a 65.41% stake in Hepsiburada, enhancing its presence in the e-commerce sector.

Market Expansion: The acquisition will broaden Kaspi.kz's addressable market to 100 million people, facilitating growth opportunities in Türkiye and Kazakhstan.

Operational Independence: Both Kaspi.kz and Hepsiburada will maintain their distinct brands and operational structures following the acquisition.

This strategic acquisition positions Kaspi.kz (NASDAQ:KSPI) to leverage Hepsiburada's established platform to enhance its e-commerce and digital service offerings. By integrating combined knowledge and technology, the collaboration aims to accelerate the growth of online services in both Türkiye and Kazakhstan.

Hepsiburada has built a robust infrastructure that supports a vast network of consumers and merchants, making it a valuable asset for Kaspi.kz as it seeks to capitalize on the growing e-commerce market in the region. With a significant user base and a wide range of products, Hepsiburada presents an opportunity for Kaspi.kz to deepen its engagement in the digital economy.

To finance the acquisition, Kaspi.kz plans to utilize cash generated from its operations along with existing cash reserves. The company is also considering potential avenues within debt capital markets, particularly following its recent BBB- investment grade credit rating by Fitch, which may enhance its financial flexibility.

In summary, the acquisition of a controlling stake in Hepsiburada represents a pivotal step for Kaspi.kz, expanding its market reach and reinforcing its commitment to enhancing e-commerce and digital services in Türkiye and Kazakhstan. This move is expected to create synergies between the two companies, paving the way for innovation and growth in the digital marketplace.

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