Oxus Acquisition Corp, created by Kazakh businessman Kenes Rakishev, intends to raise $150 million to acquire a company specializing in technologies in the field of «energy transfer». According to Interfax-Kazakhstan, a prospectus for the Oxus Acquisition IPO has already been published on the website of the US Securities and Exchange Commission (SEC). It expects to get a listing on NASDAQ.
EarlyBirdCapital and Sova Capital are the underwriters. Kenes Rakishev owns 94% of the newly created company through Oxus Capital PTE. It is assumed that he will have 19.3% after the IPO. Small stakes are owned by independent directors of Oxus: Shiva Vikram Khemki from 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). Within the framework of private placement, the founder of Oxus will contribute his own funds to the company in parallel with the placement on the market (for transactions of SPAC companies, this is a generally accepted scheme).
Kenes Rakishev will acquire Oxus warrants in the amount of $ 6.15 million, both underwriters will invest $375 thousand each. To finance the future transaction, the funds raised will be transferred to a special trust account with Goldman Sachs. Oxus will search for objects for purchase in a number of segments: infrastructure for electric vehicles, materials for batteries, energy storage. North Africa and the Middle East, Southeast Asia, and the CIS countries were selected as priority regions.
Kenes Rakishev’s holding Fincraft is the owner of Battery Metals Technologies Ltd., a company that produces metals for electric car batteries. The businessman is also an investor in several startups in the field of energy technologies.
Kenes Khamitovich Rakishev is one of the most important entrepreneurs of Kazakhstan, a successful businessman, philanthropist, public figure and venture investor, whose experience has allowed us to successfully implement many large projects. Kenes Rakishev was born on July 14, 1979 in Almaty. By education, he is a lawyer (State Law Academy of Kazakhstan, graduated in 2000) and an economist (Economic University named after Ryskulova, 2002 year of release). In 2007, he received a diploma from the Oxford Business School in the discipline» advanced management «(«advanced management»), subsequently graduated from the courses of the London Business School (discipline»development of a value creation strategy»).
Under the leadership and with the participation of Kenes Rakishev, many successful startup projects have already been implemented. Most of the startups in which Kenes Rakishev participated as an investor have already brought a profit that significantly exceeds the investment, and those projects that have not yet achieved success are promising, and according to experts, they will be implemented in the near future. Kenes Khamitovich explains such success with a careful approach to the selection of projects, personal participation in the management of startups and, of course, experience, which generates a professional flair.
One of the most famous startups in which Rakishev invested is: NetElement – a world-famous company engaged in electronic transactions. Over the past year, the company’s turnover exceeded $ 1.6 billion. Sirin Labs. The company’s main product is the ultra-secure Solarin smartphone. The device uses the world’s best AES-256 data encryption technologies, this technology is also used by intelligence agencies and special services of advanced countries. According to Sirin Labs, the main buyers of this gadget will be large businessmen and politicians.