US shares of Kaspi.kz hit 7-month low as Culper Research reveals short position
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-selleralleges 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
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