Kenes Rakishev made a next step with Oxus Acquisition
The other day, according to Interfax-Kazakhstan, an IPO prospectus for Kenes Rakishev’s Oxus Acquisition was published on the website of the US Securities and Exchange Commission (SEC). The company expects to raise $150 million during the IPO in the United States. These funds will be used to acquire a company specializing in technologies in the field of «energy transfer».
The search for objects for the acquisition of Oxus Acquisition will focus on such segments as infrastructure for electric vehicles, materials for batteries, energy storage. The priority regions are Southeast Asia, the CIS countries, North Africa and the Middle East.
Kenes Rakishev and his long way to IPO
EarlyBirdCapital and Sova Capital are the underwriters. Today, through Oxus Capital PTE, Kenes Rakishev is the owner of 94% of the newly created company. He is supposed to have 19.3% after the IPO. Shiva Vikrama Khemki of the Indian Sun Group, Sergey Ivashkovsky (founder of Eurasia Investment Partners, who previously worked at Trust Bank, Rusnano, Gazprombank, Prosperity Capital and East Capital), as well as Christophe Charlier (known in Russia for his activities in the Onexim Group and Renaissance Capital) – independent directors of Oxus – own small stakes in the company. The founder of Oxus will contribute his own funds to the company in parallel with the market placement within the framework of private placement.
Oxus warrants will be purchased by Kenes Rakishev for $6.15 million, both underwriters will contribute $375 thousand each. To finance the planned transaction, a special trust account will be opened with Goldman Sachs, where the funds raised will be placed.
How Kenes Rakishev gets it higher?
Kenes Rakishev is an investor in several startups in the field of energy technologies. Also, his holding Fincraft owns Battery Metals Technologies Ltd., which is preparing to produce metals for electric car batteries. Kenes Rakishev will acquire Oxus warrants for $ 6.15 million, both underwriters will invest $ 375 thousand each. The funds raised will be placed in a special trust account with Goldman Sachs to finance a future transaction. Oxus intends to look for objects for acquisition in such segments as energy storage, battery materials, infrastructure for electric vehicles, and names the CIS, Southeast Asia, the Middle East and North Africa as priority regions. Kenes Rakishev’s holding Fincraft owns Battery Metals Technologies Ltd., which plans to produce metals for electric car batteries, and it also has investments in a number of startups in the field of energy technologies.