This week, a high-profile deal was completed. A company created by partners from Kazakhstan and Russia entered the international financial market. Kazakhstani businessman Kenes Rakishev, together with two investors from Russia, brought a new company Oxus Acquisition Corp to the NASDAQ exchange through the so-called SPAC deal.
Initially, it was planned to attract $ 150 million from investors. However, the demand exceeded the initial supply, and as a result, the company had to bring an additional 2,250,000 shares to the market. As a result, the investment reached $172,500,000.
Kenes Rakishev’s partners in the fund were several successful investors from Russia. Christophe Charlier, who has 25 years of experience in investment banking in Russia, direct investment and international management, became one of the independent directors. His track record includes working as a director at the French gas production company La Française de l’Energie, Chairman of the Board of Directors of Renaissance Capital, Deputy General Director of the Onexim Group. Another partner is Sergey Ivashkovsky, the founder of Eurasia Investment Partners – a company that advises private investors on LBO and private equity transactions. Prior to the foundation’s creation, he managed to work in senior positions at TRUST Bank, Gazprombank, Rosbank, Interros and Rusnano companies.
The new company also includes well – known investor Shiv Vikram Khemka, deputy chairman of the SUN Group, a 120-year-old family-owned enterprise that manages assets, natural resources, green infrastructure and high technologies. SUN is one of the world leaders in the field of energy for electric vehicles. The Group operates in various regions of the world, including India, Russia, the Middle East, Central and Southeast Asia.
Kenes Rakishev himself, who became the chairman of the Board of Directors of Oxus Acquisition Corp., has a successful experience of investing in dozens of enterprises in the metallurgical, mining, oil, petrochemical, banking, financial industries, information technology, e-commerce, logistics and insurance. Rakishev is the Chairman of the Management Board of Fincraft Resources JSC (formerly SAT & Company) (since 2008 it has been listed on the Kazakhstan Stock Exchange) and the Chairman of the Management Board of Battery Metals Technologies Ltd., a company producing batteries for electric vehicles.
The new company will look for partners for investments in the field of alternative energy and innovative technologies for waste processing in the markets of the CIS, Southeast Asia and North Africa.
The launch of the NASDAQ in mid-September is one of the few successful deals involving businessmen from Russia and the CIS. The previous successful experience with the participation of our compatriots was the merger of the mobile game developer Nexters Global Limited (founders – Andrey Fadeev and Boris Hertovsky) with the SPACE company Kismet Acquisition One Corp. businessman Ivan Tavrin, who in August 2020 raised $ 250 million during the initial placement on the US Nasdaq exchange.
Investors highly appreciated the company of Rakishev and his partners. And in the case of successful investments, a new “blue chip” in the field of alternative energy may appear on the international financial market.