Kaspi.kz, a Kazakhstani fintech company, has denied accusations made by Culper Research, a firm specializing in “full disclosures” to profit through short selling. The company described the report as inaccurate, misleading and misrepresenting its business. Kaspi.kz published its official response to Culper’s report on its website.

Kaspi.kz rejects accusations by short sellers

The current shareholders of Kaspi.kz are going to sell around nine million depository receipts during an initial public offering on Nasdaq, according to a report filed to the U.S. Securities and Exchanges Commission (SEC), Bloomberg reported.

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Kaspi.kz rejects accusations by short sellers

Shareholders of Kaspi.kz want to make money on $900 million worth of IPO in the U.S.