Kaspi.kz Lifts Hepsiburada Stake to 93.51% in $57.7M Block Trade
KSPI sits 45% above its 52-week low of $68.59.
Summary
Kaspi.kz bought 19.5 million Hepsiburada ADSs from VR Global Partners for $57.7 million, raising its stake to 93.51%.
Key Events · Ownership and Investor Activity · KSPI
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Stake Increased to 93.51%
Kaspi.kz acquired 19,547,401 ADSs from VR Global Partners, L.P. at $2.95 per ADS, raising its beneficial ownership to 400,841,947 shares or 93.51% of Hepsiburada.
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Transaction Value $57.7M
The block purchase totaled $57,664,832.95, funded from Kaspi.kz working capital under an agreement dated September 10, 2026.
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Consolidation Toward Full Control
The stake rose from 88.95% reported on September 10, 2026, moving Kaspi.kz closer to a potential squeeze-out of remaining minority shareholders.
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Purchase Price Below Market
The $2.95 per ADS block price is substantially below Hepsiburada's current ADS price, reflecting a negotiated private transaction rather than open-market buying.
Analysis · KSPI · Trade & Services
Kaspi.kz has acquired 19.5 million Hepsiburada ADSs from VR Global Partners at $2.95 per ADS, lifting its ownership to 93.51% from 88.95%. The purchase consolidates control ahead of a potential squeeze-out of minority holders, and the $2.95 price is far below Hepsiburada's current ADS price, reflecting the negotiated block nature of the deal. This follows a September 10 capital increase subscription that had already raised the stake to 88.95%.
How filings like this one have moved
In the 30 days to Sep 15, 2026, 29.9% of the 1678 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.25%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, KSPI was trading at $99.63 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $19.2B. The 52-week trading range was $68.59 to $109.94. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.