Kaspi.kz Enhances E-commerce Footprint with Hepsiburada Deal
ALMATY, Kazakhstan — Joint Stock Company Kaspi.kz (NASDAQ: KSPI) has successfully concluded its acquisition of a significant stake in D-Market Electronic Services & Trading, commonly known as Hepsiburada (NASDAQ: HEPS). This move sees Kaspi.kz obtain 40 million Class A shares and 173,246,220 Class B shares, collectively solidifying its control over over 65% of Hepsiburada's equity, effective immediately following the completion of regulatory approvals.
Mikheil Lomtadze, the CEO and co-founder of Kaspi.kz, expressed enthusiasm about this acquisition, highlighting the potential for reaching a market comprising 100 million consumers. He emphasized the shared vision between Kaspi.kz and Hepsiburada for sustainable and profitable growth, rather than merely expansion at any cost.
The integration of resources from both companies aims to foster innovation within the e-commerce and digital services space. According to Lomtadze, both entities are entrepreneurial at their core and possess unique insights that will enhance their operational capabilities. This merger illustrates the goal of benefiting small and medium enterprises (SMEs) and entrepreneurs in both Kazakhstan and Türkiye, resulting in shared opportunities across the region.
Hanzade Do?an, the founder of Hepsiburada, shared her excitement over the partnership. She has always envisioned Hepsiburada's growth journey to be one focused on value creation and sustainable development. The strategic alliance with Kaspi.kz, which is recognized for its innovative solutions in the tech industry and as a prominent NASDAQ-listed company, is seen as pivotal for advancing Hepsiburada's next phase.
Do?an believes that Kaspi.kz's commitment and trust in Hepsiburada will enhance its position in Türkiye’s competitive e-commerce market. This partnership is not only about operability; it aims to create a broader positive impact on local SMEs, entrepreneurs, and consumers by unlocking new potential within the digital ecosystem.
The acquisition involved a transaction valued at approximately $1.127 billion, with $600 million paid upfront to the sellers and the remaining amount earmarked for payment within six months. As part of this financial arrangement, Kaspi.kz has pledged shares of Hepsiburada to ensure the deferred payment process.
Despite the acquisition, both Kaspi.kz and Hepsiburada will continue to operate under their individual brand identities, ensuring that their unique value propositions are preserved. This strategic decision reflects the recognition of the importance of brand identity in the marketplace.
Kaspi.kz is at the forefront of mobile innovation, operating successful platforms such as the Kaspi Super App and Kaspi Pay Super App. These applications have garnered immense popularity, with metrics indicating 14 million monthly active users. The Super App provides a comprehensive suite of services catered to everyday needs, thereby facilitating seamless transactions between consumers and merchants.
The joining of forces with Hepsiburada marks not just a strategic acquisition but a commitment to enhancing the quality of e-commerce services in both Türkiye and Kazakhstan. It signifies a new chapter with the potential to revolutionize how consumers and businesses interact within the digital marketplace.
The main goal of the acquisition was to expand Kaspi.kz's market reach and create sustainable growth in the evolving e-commerce sector of Türkiye.
Kaspi.kz now owns 65.41% of Hepsiburada’s total outstanding shares, making it the controlling shareholder.
This partnership is anticipated to enhance innovation and operational capabilities, benefiting local SMEs and consumers by creating more opportunities in the digital marketplace.
Mikheil Lomtadze, CEO of Kaspi.kz, and Hanzade Do?an, founder of Hepsiburada, are key figures emphasizing the strategic vision driving this acquisition.
Both Kaspi.kz and Hepsiburada will maintain their respective brands and independent operating structures while collaborating for mutual growth and success.
Hey there I'm Caleb Price, a writer and financial specialist who loves to assist others in understanding the financial world. Having years of practical experience and a solid background in finance, my area of expertise is converting difficult financial ideas into useful, doable insights for my blog and publications. My goal with my writing is to give readers the information and assurance they need to successfully negotiate their financial journeys.
My ability to interact with a wide range of people—from novices starting their investing journey to seasoned investors looking for new approaches—has come from contributing to several financial blogs. Making money approachable and understandable is my goal; this will enable you to make wise choices and realize your financial objectives. We appreciate you coming along on this path to success and financial empowerment on Investors Hangout.
Contact Caleb Price here.
Investors Hangout is a leading online stock forum for financial discussion and learning, offering a wide range of free tools and resources. It draws in traders of all levels, who exchange market knowledge, investigate trading tactics, and keep an eye on industry developments in real time. Featuring financial articles, stock message boards, quotes, charts, company profiles, and live news updates. Through cooperative learning and a wealth of informational resources, it helps users from novices creating their first portfolios to experts honing their techniques. Join Investors Hangout today: https://investorshangout.com/
The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.
