External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

Equity Bottom-Up

D-MARKET Elektronik Hizmetler ve Ticaret Anonim Sirketi / Equity Bottom-Up

D-MARKET Elektronik Hizmetler ve Ticaret Anonim Sirketi

<ul><li>Hepsiburada, a Turkish e-commerce company, is being acquired by Kazakh 'super app' Kaspi at a price of $4.75 per Class B share</li><li>Current market price of HEPS is $3.35, presenting a potential merger arbitrage opportunity for investors</li><li>Market misunderstanding of Turkish capital market rules may lead to a mandatory offer for remaining Class B shares at the same price in cash</li></ul>This content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Hepsiburada, a Turkish e-commerce company, is being acquired by Kazakh 'super app' Kaspi at a price of $4.75 per Class B shareCurrent market price of HEPS is $3.35, presenting a potential merger arbitrage opportunity for investorsMarket misunderstanding of Turkish capital market rules may lead to a mandatory offer for remaining Class B shares at the same price in cashThis content is sourced through publicly available sources and has been machine generated. Information displayed is for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Hepsiburada (HEPS) - Friday, Oct 18, 2024

Fintech & EM-focused Analyst, KT Capital Group

Alec Tseung

Fintech & EM-focused Analyst

KT Capital Group

Principal investments and advisory firm that focuses on connecting the CIS countries with East Asia.

Principal investments and advisory firm

<ul>
<li>On Oct 17th, Kaspi.kz, Kazakhstan's super-app, signed a stock purchase agreement to acquire a 65.4% stake in Hepsiburada, a leading e-commerce platform in Turkey. </li>
<li>The transaction is still subject to regulatory approval; Hepsiburada's share price in the US increased by ~60% on Friday after the announcement.</li>
<li>The acquisition makes a lot of strategic sense which would elevate Kaspi.kz to a position to target a combined market of &gt;100 million population (vs. currently 20 million).</li>
</ul>


On Oct 17th, Kaspi.kz, Kazakhstan's super-app, signed a stock purchase agreement to acquire a 65.4% stake in Hepsiburada, a leading e-commerce platform in Turkey. 
The transaction is still subject to regulatory approval; Hepsiburada's share price in the US increased by ~60% on Friday after the announcement.
The acquisition makes a lot of strategic sense which would elevate Kaspi.kz to a position to target a combined market of &gt;100 million population (vs. currently 20 million).


Kaspi.kz: Kazakhstan’s Super-App Acquiring Turkey’s E-Commerce Leader

The tech sector in Turkey is at an inflection point with its large, young, and tech-savvy population. We view that the market deserves a lot more attention from global investors, especially with its tech leaders planning to be listed in the international capital markets in the next 2 - 3 years. In this note, we present one of the major e-commerce players in the country, Hepsiburada, which is in the process of developing its super-app ecosystem. The company was listed on NASDAQ in July and is the very first and only Turkish (tech) company listed in the US so far.Although we view that it might still be a bit early to play the Turkish (tech) market, Hepsiburada is worth noting and following since it offers insights to keen investors about Turkey's evolving competitive landscape in the e-commerce sector and consumer habits.

The tech sector in Turkey is at an inflection point with its large, young, and tech-savvy population. We view that the market deserves a lot more attention from global investors, especially with its tech leaders planning to be listed in the international capital markets in the next 2 - 3 years. In this note, we present one of the major e-commerce players in the country, Hepsiburada, which is in the process of developing its super-app ecosystem. The company was listed on NASDAQ in July and is the very first and only Turkish (tech) company listed in the US so far.Although we view that it might still be a bit early to play the Turkish (tech) market, Hepsiburada is worth noting and following since it offers insights to keen investors about Turkey's evolving competitive landscape in the e-commerce sector and consumer habits.  

Hepsiburada: The Very First and Only US-Listed Turkish Tech Company

Turkey

D-MARKET Elektronik Hizmetler ve Ticaret Anonim Sirketi (Hepsiburada) operates as an online e-commerce company. The Company offers electronic, fashion, home living, stationery, sports, outdoor, cosmetics, and personal care products. Hepsiburada serves customers in Turkey.

D-MARKET Elektronik Hizmetler ve Ticaret Anonim Sirketi (HEPS US)

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D-MARKET Elektronik Hizmetler ve Ticaret Anonim Sirketi (HEPS US)

Hepsiburada (HEPS) - Friday, Oct 18, 2024

Hepsiburada, a Turkish e-commerce company, is being acquired by Kazakh 'super app' Kaspi at a price of $4.75 per Class B share

Value Investors Club (VIC)

Kaspi.kz: Kazakhstan’s Super-App Acquiring Turkey’s E-Commerce Leader

Kaspi.kz, Kazakhstan's super-app, to acquire a majority stake in Turkey's leading e-commerce platform, Hepsiburada, enabling it to target a >100...

Alec Tseung

Hepsiburada: The Very First and Only US-Listed Turkish Tech Company

Hepsiburada, the very first and only Turkish (tech) company listed in the US, is worth noting and following since Turkish tech is currently at an...

Alec Tseung

Price Gauge

52-week Range

Market Cap (USDm)

P/E

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Hepsiburada (HEPS) - Friday, Oct 18, 2024

Hepsiburada, a Turkish e-commerce company, is being acquired by Kazakh 'super app' Kaspi at a price of $4.75 per Class B share

Value Investors Club (VIC)

Kaspi.kz: Kazakhstan’s Super-App Acquiring Turkey’s E-Commerce Leader

​Kaspi.kz, Kazakhstan's super-app, to acquire a majority stake in Turkey's leading e-commerce platform, Hepsiburada, enabling it to target a >100...

Alec Tseung

Hepsiburada: The Very First and Only US-Listed Turkish Tech Company

Hepsiburada, the very first and only Turkish (tech) company listed in the US, is worth noting and following since Turkish tech is currently at an...

Alec Tseung

Kaspi.kz, Kazakhstan's super-app, to acquire a majority stake in Turkey's leading e-commerce platform, Hepsiburada, enabling it to target a >100...