US shares of Kaspi.kz hit 7-month low as Culper Research reveals short position
19/09/2024 16:19
(Updates)
** U.S.-listed shares of Kazakhstan-based fintech
heavyweight Kaspi.kz KSPI.O fall as much as 22.3%, last down
16.8% at $98.88
** Stock trading at its lowest since mid-February
** Culper Research reveals short position in KSPI, alleging
that Kaspi has "systematically misled" U.S. investors and
regulators
** Short-seller alleges that KSPI's claim of it having zero
exposure to Russia is a "grave deception"
** Kaspi.kz did not immediately respond to a Reuters request
for comment
** Reuters could not independently verify the claims in the
Culper Research report
** Russia has contributed "materially" to KSPI's reported
growth - Culper Research
** KSPI has been listed on the Nasdaq since January 2024
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))