Kenes Rakishev and Aselle Tasmagambetova, the co-founders of Saby charity foundation, believe in the benefits of wide sport adoption. It’s children sport that needs the most attention and it begins at the very young age. To build better playgrounds is the key to healthier and happier generations, Kenes Rakishev and Aselle Tasmagambetova suggest.

Saby Foundation builds sports facilities for children in all regions of the country. It’s one of the oldest initiatives the fund supports. Within the framework of the program, 48 sports facilities have been built and repaired by the foundation in 14 regions of Kazakhstan over 20 years. This time the new playground was built in Taraz city.

A complex children’s playground with a total area of 1500 square meters was opened in Taraz for the Day of the City. The playground is full of modern sport and leisure equipment for young people and children of different ages, the press service of the Saby Foundation reports.

This playground is the only area for children equipped with gymnastic, sports and play facilities, attractions, swings, carousels and slides. In addition, taking into account children with special needs, special play complexes and a rubber coating were installed during construction to ensure safety throughout the facility.

More than 44.5 million tenge (~90000 euro) was allocated for the construction of the site, the facility transferred has been granted to the city of Taraz on an irrevocable basis.

In general, Zhambyl region pays special attention to the formation of a healthy lifestyle. This year, 14 sports grounds were put into operation in the regional centre under the Tarazga Tartu project. The three-year plan provides for the improvement of courtyards of multi-storey residential buildings in Taraz.

At the end of the event, the founder and president of the Saby charity fund Aselle Tasmagambetova and co-founder of the fund, Kenes Rakishev were presented with a Gratitude Letter from the governor of the region.

Saby charity fund, founded by Aselle Tasmagambetova and Kenes Rakishev, is the oldest private charity in the country. It will turn 20 in the next year. The fund maintains and supports wide range of programs, including wide sport promotion, education, healthcare and environmental protection.

Source: Warsaw Point

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The newly created Oxus Acquisition Corp is a next step for Kenes Rakishev to acquire companies specialized in the red-hot area of energy transition, batteries and EV’s. Kenes Rakishev, who is heavily involved in the modern tech investment scene rolls out his strategy to acquire more assets.

Oxus Acquisition Corp, created by Kazakh businessman Kenes Rakishev, wants to raise $ 150 million to acquire a company specializing in technologies in the field of «energy transfer». The prospectus of the IPO of Oxus Acquisition, which plans to get a listing on NASDAQ, was published on the website of the US Securities and Exchange Commission on Tuesday, Interfax-Kazakhstan reports.

The underwriters are EarlyBirdCapital and Sova Capital, KenesRakishev.press informs. Kenes Rakishev, through Oxus Capital PTE, owns 94% of the newly created company, it is planned that after the IPO he will have 19.3%. The independent directors of Oxus have small stakes – Shiva Vikram Khemka from the Indian Sun Group, Christophe Charlier, known in Russia for his work in the Onexim Group and Renaissance Capital, and Sergey Ivashkovsky (the founder of Eurasia Investment Partners, who previously worked at Trust Bank, Rusnano, Gazprombank, Prosperity Capital and East Capital). In parallel with the market placement, the founder of Oxus will contribute personal funds to the company within the framework of private placement (this is the standard scheme for transactions of SPAC companies).

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.

Source: Talk-Finance

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Kenes Rakishev and Asel Tasmagambetova planned to create a school named after Shokan Ualikhanov in Almaty on completely new principles. For every student, education at school is not just time spent and not “a bag of knowledge” that needs to be acquired. Studying is a career and there are many different paths to take. Specializing in something in which a student is talented and happy is unthinkable without a large and new high school building. And now, in 2023, the building  is completely ready and working for the benefit of the students.

From September 1, 2023, the private  school named after Shokan Ualikhanov  will accept high school students from grades 7 to 11 in the new school building.

The modern innovative building of the school, built taking into account the latest teaching methods and educational standards, is designed for 520 high school students. It provides unique opportunities to expand the intellectual, creative and academic horizons of students.

The main concept is the maximum satisfaction of the educational needs of each individual student. This means that an individual career path is created for each high school student.

The individual path includes nine areas of development, and each graduate receives a corresponding certificate, diploma or diploma.

The school management pays attention to all aspects of the personal development of students, ensuring that they not only achieve success in their professional activities, but also become moral leaders who are proud of the traditions and culture of their country.  Find out about the school More about Ualikhanov’s school

The new academic building houses a sports hall with an area of ​​600 square meters. m, a modern library with a spacious hall for 80 reading chairs, three high-tech lecture halls, an amphitheater with all-round LED screens, a dining room with 400 seats, choreography and judo halls, more than a dozen creative student recreation areas, a cafeteria and much more.

The opening of the innovation building is another milestone in the path of our school since its founding. It affirms a personalized approach to learning and the belief that every student is unique, with different aspirations and needs. We have created an educational environment that will allow students not only to develop in all aspects and achieve success in the professional field, but also to become harmonious individuals proud of their cultural heritage. Together with our dedicated teachers, we will achieve this mission by opening a new chapter in the history of education and inspiring talented students. Asel Tasmagambetova.

About the school named after Shokan Ualikhanov

The private school named after Shokan Ualikhanov was founded in 2020 by Kenes Rakishev and Asel Tasmagambetova. With the opening of the new school building, 1,320 students from grades 1 to 11 are studying in Kazakh and Russian.

Kenes Rakishev and Asel Tasmagambetova open a new building of the school named after Shokan Ualikhanov.

The educational process is built on the basis of advanced international experience and the principle of equal access to quality education. The school’s founders provide free education to the best students and scholarships to the most successful.

Education is based on the principles of sustainable development and the UN SDGs from the 1st grade.

Shokan Warikanov Private School is the first and only educational institution in the CIS to receive a LEED certificate, which indicates the school’s compliance with international environmental standards.

The school is a full member of the UN Global Compact from 2023.

Source: Reg TV

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Source: Bizmedia

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Kenes Rakishev, an international entrepreneur, philanthropist and former special envoy of the Kazakhstan government, is leading the charge for an upcoming Nasdaq listing of Borealis Foods Inc.. He is included in the “Top 50 Wealthiest Businessmen of Kazakhstan” and “Top 50 Most Influential Businessmen of Kazakhstan” lists by Forbes magazine. In Forbes’ list of the wealthiest businessmen in Kazakhstan for 2021, he holds the 9th position with a capital of 950 million dollars.  

Rakishev is President of Fincraft Group and Net Element; a global publisher of online destinations and business services on a custom technology platform for internet and mobile distribution. He is also a member of the Board of Directors of Fastlane Ventures, a Moscow-based investment company that focuses on developing the Russian online business sector. Rakishev is one of the founders of Singulariteam, a series of investment funds dedicated to assist and support early-stage start-up technology companies.

When Kenes Rakishev launched Oxus SPAC – a special purpose acquisition company designed to acquire companies and take them public on the American stock market, analysts speculated on what exactly he would invest in. Kenes Rakishev is known for his broad interest in robotics, battery technologies, communications, and innovations. No one expected Rakishev to choose an extremely unusual sector and put effort and money into the food industry. Kenes Rakishev took the company Borealis Foods public. The company is famous for its environmentally friendly and trendy products, and for its further growth, Kenes Rakishev enlisted the world-class culinary star Gordon Ramsay.

Borealis Foods, a company specializing in food technology innovations, responsible for popular brands like Chef Woo and Ramen Express, has announced the addition of Gordon Ramsay, a renowned Michelin-starred chef and international businessman, as a consultant and brand ambassador.

Kenes Rakishev is leading the charge for Borealis Foods and Oxus Acquisition Corp. to be listed as public companies on Nasdaq by the end of 2023. Borealis Foods is dedicated to developing highly nutritious and functional food products that are cost-effective and environmentally sustainable, with a focus on addressing global food security issues. Partnering with Gordon Ramsay will enable Borealis Foods Inc. to reach new heights and expand production, while remaining an innovative producer of high-quality food products.

“We warmly welcome Gordon Ramsay as a strategic partner and consultant, contributing his culinary expertise, business acumen, and global recognition to help us achieve our goals,” said Reza Soltandez, the founder and CEO of Borealis. “His partnership will strengthen our mission to address the challenge of providing accessible, nutritious protein-based meals, which many people in the USA and around the world face.”

Kenes Rakishev establishes Oxus Acquisition Corp.: A new chapter for Borealis Foods

Kenes Rakishev, a successful businessman from Kazakhstan and experienced investor in high-tech startups, has founded Oxus Acquisition Corp., which made significant progress by the end of February, finalising a business consolidation agreement. The resulting merged entity will retain the name Borealis Foods Inc. It’s anticipated that after the deal’s completion, Reza Soltandez, CEO and co-founder of Borealis, along with Barthélémy Helg, Chairman and co-founder, will lead the company. The proposed deal, valued at $150 million, received approval from the boards of directors of Borealis and Oxus.

Gordon Ramsay commented on the partnership, stating, “In the current crisis of rising costs of living and global food price growth, the issue of food security becomes more pertinent than ever. After speaking with Reza, I realized we share a common vision about the importance of providing nutritious and delicious products that are affordable. I already have several exciting ideas, and I look forward to collaborating with the Borealis Foods team on their Chef Woo products in the coming months.”

Chef Woo Ramen: A mission of nutrition and affordability

Chef Woo Ramen, developed by Borealis Foods’ subsidiary Palmetto Gourmet Foods, was created to offer healthy, affordable, and convenient meals for those who lack access to proper nutrition. Chef Woo Ramen is the world’s first plant-based ramen noodles, providing 20 grams of complete protein per serving.

Borealis Foods Inc. is dedicated to developing highly nutritious and functional food products that are cost-effective and environmentally sustainable, with a focus on addressing global food security issues. This mission aligns with Borealis Foods’ goals of making a positive impact on human life and the environment.

Partnering with Gordon Ramsay will enable Borealis Foods Inc. to reach new heights and expand production, while remaining an innovative producer of high-quality food products.

Borealis Foods and Oxus Acquisition Corp. plan to be listed as public companies on Nasdaq by the end of 2023.

Kenes Rakishev career development

• 1998-1999: Advisor to the Road Safety Fund under the Ministry of Internal Affairs of the Republic of Kazakhstan.
• 2000: Manager at JSC “KazTransGas.”
• 2000-2002: Specialist, Head of Marketing Department in the Materials and Technical Supply Department at JSC “Intergas Central Asia.”
• 2002: Head of the Renewable Energy Department at JSC “KazTransGas.”
• January-October 2003: First Deputy CEO for Export at LLP “Trade House KazMunayGas.”
• 2003-2004: Deputy CEO for Marketing at JSC “KazTransGas.”
• 2004-2005: CEO of LLP “Mercury.”
• Since March 2005: Vice-President of the Trade and Industry Chamber of the Republic of Kazakhstan, a member of the Board of Directors of Vyborg Shipbuilding and Astrakhan Shipyard.
• Since November 2006: Chairman of the Board of Directors of the industrial holding SAT & Company, from September 2007 to December 2019 – Chairman of the Management Board of SAT & Co (renamed to JSC “Fincraft Resources” in 2018).
• Since November 2007: Member of the Board of Directors of JSC “Kazakhstan Petrochemical Industries.”
• 2012: Member of the Presidium of the Business Association NEP “Union “Atameken .”
• 2012: Chairman of the Presidium of the Public Association “Association of Young Entrepreneurs of Kazakhstan.”
• 2013: Member of the Youth Policy Council under the President of Kazakhstan “Zhass Kenes.”
• February 14, 2014 – March 29, 2018: Chairman of the Board of Directors of JSC “BTA Bank.”
• 2014-January 2015: Independent Director of JSC “National Company “Kazakhstan Engineering.”
• 2015-2018: Member of the Board of Directors, Chairman of the Board of Directors of JSC “Kazkommertsbank.”
• Since 2019: President of the Kazakhstan Boxing Federation.
• Since 2019: External Advisor to the Minister of Foreign Affairs.
• Since February 2021: President of Fincraft Group.

Source

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Kenes Rakishev, star investor, international entrepreneur, philanthropist and former special envoy of the Kazakhstan government, meets star chef, Gordon Ramsay and star manufacturer, Borealis Foods to change the international food market.

When Kenes Rakishev embarked on the establishment of Oxus SPAC, a specialized entity aimed at acquiring and subsequently taking companies public on the American stock market, experts were filled with anticipation and conjecture regarding his targeted investments. Renowned for his diverse interests spanning robotics, battery technologies, communications, and groundbreaking concepts, Kenes Rakishev’s decision left everyone startled, as he delved into an exceedingly unforeseen realm: the food sector.

Kenes Rakishev, star investor, international entrepreneur, philanthropist and former special envoy of the Kazakhstan government, meets star chef, Gordon Ramsay and star manufacturer, Borealis Foods to change the international food market.

Kenes Rakishev executed a remarkable manoeuvrer by orchestrating the public offering of Borealis Foods. This particular enterprise had earned acclaim for its unwavering dedication to crafting ecologically responsible and pioneering merchandise. However, Rakishev’s aspirational strategies for continued expansion did not conclude there. To propel Borealis Foods towards uncharted pinnacles, he actively pursued an alliance with none other than the globally esteemed culinary virtuoso, Gordon Ramsay.

This unforeseen partnership serves as a testament to Kenes Rakishev’s strategic foresight and his readiness to navigate unexplored domains. The integration of Gordon Ramsay’s culinary mastery into the realm of Borealis Foods holds the potential to fuse innovation, sustainability, and epicurean brilliance in manners that could potentially redefine the landscape of the food industry.

Borealis Foods, a pioneering force in food technology innovations and the creative force behind beloved brands such as Chef Woo and Ramen Express, has made waves with its latest announcement: the enlistment of Gordon Ramsay, a world-renowned Michelin-starred chef and global business titan, as a consultant and esteemed brand ambassador.

The resonance of this partnership reverberates through the industry, as Reza Soltandez, the visionary founder and CEO of Borealis, expressed his excitement, stating: “With open arms, we welcome Gordon Ramsay as a strategic collaborator and advisor, infusing his culinary mastery, strategic acumen, and worldwide renown to propel us toward our ambitions.”

Soltandez underlines how Ramsay’s involvement is set to fortify their mission of tackling the intricate challenge of ensuring accessible, wholesome, protein-enriched meals for the many individuals navigating this issue in the United States and beyond.

Amidst this culinary excitement, Kenes Rakishev, a distinguished Kazakhstani entrepreneur with a remarkable track record of investing in high-tech startups, emerges as a pivotal figure. His establishment of Oxus Acquisition Corp. marks a new epoch for Borealis Foods. By the culmination of February, the strides made by Oxus Acquisition Corp. culminated in a transformative business consolidation accord. The aftermath of this deal will see the combined entity retaining the revered title of Borealis Foods Inc. Leading the company post-transaction, a dynamic duo will emerge—Reza Soltandez, the CEO and co-founder of Borealis, along with the astute Barthélémy Helg, Chairman and co-founder.

The strategic significance of this agreement, valued at an impressive $150 million, was endorsed by both the governing bodies of Borealis and Oxus. As this conglomerate embarks on a new trajectory, the industry waits in anticipation to witness the confluence of culinary innovation, cutting-edge technology, and astute business acumen that this union is poised to deliver.

Gordon Ramsay shared his thoughts on the collaboration, remarking, “Amidst the ongoing challenges posed by escalating living costs and the global surge in food prices, the matter of food security takes on greater urgency. My conversations with Reza illuminated our shared perspective on the significance of furnishing accessible, nourishing, and delectable offerings. With a tapestry of exciting concepts already brewing, I’m eagerly anticipating the collaboration with Borealis Foods’ team, especially in enhancing their Chef Woo range in the forthcoming months.”

Chef Woo Ramen: A Journey of Nutritional Accessibility

Chef Woo Ramen, a brainchild of Borealis Foods’ subsidiary Palmetto Gourmet Foods, was conceived with the noble mission of rendering wholesome, budget-friendly, and convenient meals to those who grapple with limited nutritional access. Boasting the distinction of being the world’s inaugural plant-based ramen noodles, Chef Woo Ramen delivers a substantial 20 grams of complete protein per portion.

Borealis Foods Inc. remains steadfastly devoted to the development of exceptionally nutritious and pragmatic culinary innovations that are economically viable and ecologically responsible. This steadfast commitment resonates harmoniously with Borealis Foods’ overarching objectives, which are poised to leave a positive imprint on both human lives and the ecosystem.

This strategic alliance with Gordon Ramsay is set to empower Borealis Foods Inc. to scale unparalleled heights and amplify its production capacities, all the while retaining its position as a trailblazing purveyor of premium-grade food products.

Borealis Foods and the trailblazing Oxus Acquisition Corp. are charting their course towards becoming publicly-listed entities on Nasdaq, a milestone they anticipate achieving by the close of 2023.

Kenes Rakishev’s Involvement in Social Initiatives and Philanthropy

During the World Rapid Chess Championship in Astana back in 2012, Kenes Rakishev assumed a leadership role, and SAT & Company, under his guidance, took on the significant mantle of being the primary sponsor of the event. This endeavour marked a key moment in his commitment to community involvement.

In December 2014, he extended his influence by becoming the head of the development council for youth entrepreneurship at the National Chamber of Entrepreneurs of Kazakhstan. This strategic position allowed him to contribute to fostering the growth of young entrepreneurs in the country.

Beyond his business endeavours, Kenes Rakishev is a fervent advocate of the philanthropic foundation “Saby.” Co-founded by his spouse, Aselle Tasmagambetova, the foundation has undertaken a multifaceted approach to social betterment. Among its achievements are the provision of scholarships to gifted students within Kazakhstan, aiding over 300,000 individuals in accessing medical treatments, facilitating specially-equipped taxis for those with disabilities, and financing the construction of sports facilities, playgrounds, and gymnasiums.

Starting in 2013, the “Saby” foundation, with support from Kenes Rakishev and Vyacheslav Kim, has annually organized the “Build Your Business” competition for aspiring young entrepreneurs. The competition has proved transformative, granting financial assistance in the form of business development grants to winners. Over the initial five-year period, a total of 41 projects were awarded grants amounting to more than $1 million.

In 2017, the foundation achieved another milestone by financing the establishment of a private school named after Chokan Valikhanov in Almaty. This endeavour attracted investments surpassing 6 billion tenge, highlighting the substantial impact of Rakishev’s philanthropic vision.

In December 2018, Kenes Rakishev took on a pivotal role by assuming the position of Vice-President of the Kazakhstan Boxing Federation, overseeing international relations. Since 2019, he has held the position of President within the federation. In a remarkable achievement in 2021, the Kazakhstan women’s boxing team secured an impressive 8 out of 10 gold medals at the Asian Women’s Boxing Championship. In recognition of this triumph, Kenes Rakishev established an additional prize fund equivalent to the awards offered by AIBA, further enhancing the recognition and rewards for the champions and top performers of the championship. This move exemplified his commitment to uplifting sports and recognizing outstanding accomplishments within his country.

Source

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As soon as COVID-19 struck Kazakhstan or even somewhat earlier responsible local businessmen started to brace for impact. Those who participated in charity begun to accumulate funds and develop programmes to help Kazakhstani people drive through the pandemic. Kenes Rakishev supported people with the help of Saby fund. He also aided at least two other charities. Saby Foundation, the oldest private charity fund in Kazakhstan, was founded in 2002 by Kenes Rakishev and his spouse Aselle Tasmagambetova.

As for September, Kenes Rakishev and his Saby foundation spent more than one billion tenges for projects specifically targeted to help Kazakhstan to overcome the COVID-19 pandemic. A quick response to the incoming emergency is key to success. Kazakhstan seems to be cruising the emergency better than many other countries. Part of this success can be attributed to Kenes Rakishev, Aselle Tasmagambetova, Saby fund, and their charity partners.

From the first days of the emergency announcement, the Foundation organized a charity event to raise funds for the purchase of express tests for diagnosing coronavirus infection. In total, 402 million tenges was collected. This money was used to buy 100,000 Express and 40,000 PCR tests for free testing of the population.

Additionally, the co-founder of the Saby Foundation Kenes Rakishev transferred 445,000,000 tenges to the Birgemiz public Fund to provide social support for Kazakhstan’s people during the pandemic.

Under the close supervision of Kenges Rakishev and Aselle Tasmagambetova, the Saby Foundation purchased a ventilator for medical institutions in Almaty. It amounted to 10.5 million tenges. Seven oxygen concentrators in the amount of about three million tenges were also purchased.

Kenes Rakishev is involved in a wide variety of charities, sports development, and social projects. He is a member of the Youth Policy Council, working under the auspices of the President of Kazakhstan. In December 2014, Rakishev became the Head of the Youth Entrepreneurship Development Council at the National Chamber for Entrepreneurship. He is an internationally acknowledged entrepreneur and pioneer.

Kenes Rakishev’s career started as a councilor for the Ministry of Internal affairs of Kazakhstan. Then he chose to switch to pursue a corporate career. He worked in energetics, in «KazTransGaz», «Intergaz Central Asia» and «KazMunayGaz». In 2004 he was appointed as vice-president of «KazTransGaz» and CEO of Kazakhstan petrochemical industry.

In 2006 Kenes Rakishev became the major shareholder and CEO of SAT & Company (KASE: SATC). This company owns and controls around thirty business venues dedicated to the oil trade, prospecting, machinery manufacturing, metal smelting, and mining. SAT & Company grew rapidly and established itself on international markets by purchasing new assets in China and Turkey. SAT & Company capitalization has passed the 500 million USD mark in 2013.

In 2014 Kenes Rakishev was appointed as a chairman of «BTA Bank».

He was at the very beginning of many successful startups. The majority of the projects he was involved in are already profitable. Those projects that are still in development are promising to be a good investment too. Kenges Rakishev believes that the keys to success are careful selection, personal involvement, and experience which results in professional intuition.

One of his well-known venues is NetElement – a world-class company dedicated to online payment technology. NetElement turnover has reached $1.6B in the last year.

Kenges Rakishev is known for his sponsorship of sporting and social initiatives. He supports the «Saby» charity fund and is actively supporting the development of the Kazakhstan sport. His SAT & Company was an official sponsor of the Kazakhstan Football Federation and the Federation of the professional boxing. In 2012 SAT & Company was the main sponsoring entity of the World Fast Chess championship. Kenges Rakishev is elected vice president of the Kazakhstan National Sporting Association.

Kenges Rakishev is one of the authors of the «Kazanat» book. It is dedicated to the history of horsemanship in Kazakhstan. The second book, «The Golden eagle» is dedicated to the traditional Kazakh Falconry.

Source : Time Bulletin

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London, Brussels (27/04 – 33)

Kazakh entrepreneur and philanthropist Kenes Rakishev’s acquired company, Oxus Acquisition Corp. and Borealis Foods Inc. announced the signing of a definitive business combination agreement in February this year. This alliance is expected to result in a newly combined company under the name Borealis Foods Inc. Upon the signing, the company will continue to be led by Borealis’ CEO and co-founder Reza Soltanzadeh, and chairman and co-Founder Barthelemy Helg. The boards of directors of Borealis and Oxus have each unanimously approved the proposed $150 million transaction.

Borealis is a food technology company that has created ramen meals that are organic, vegan, vegetarian, Halal, Kosher, plant-based, egg and dairy free, non-GMO, MSG free, and TBHQ free. These food items are manufactured with recyclable packaging. The company’s subsidiary Palmetto Gourmet Foods, Inc. has an annual capacity to produce 600 million ready-to-eat ramen meals, sold in the US, Canada and soon Europe. The ramen category represents an estimated $40 billion market.

“We are thrilled about the next stage of Borealis and our alignment with Oxus on our shared vision of making healthy and sustainable food accessible to all. By combining with Oxus, we can fully realize our mission of developing food technology solutions to address global food challenges. This new company represents a significant step forward for us,” said Reza Soltanzadeh, CEO of Borealis.

In turn, Kanat Mynzhanov, CEO of Oxus said that his team has been working hard to find an optimal partner to join us in this quest. “We have evaluated many potential candidates and we believe that we have found an excellent partner in Borealis, as a leading platform in food tech, and Palmetto as their first successful application of such innovation on a commercial scale. We believe Borealis is uniquely positioned to revolutionize the global basic food industry,” he stated.

Oxus Acquisition Corp. is acquired by young businessman Kenes Rakishev. In September 2021, the company completed an initial public offering (IPO) on NASDAQ. Oxus is a SPAC (Special Purpose Acquisition Company) designed to raise capital through IPO for the purpose of acquiring or merging with an existing company.

The company had earlier announced its intention to pursue an initial business combination with any target business linked with energy transition technologies. With the help of the IPO, Oxus raised $172.5 million. The company had planned to find a target company and close a deal before March 8, 2023. However, Oxus shareholders have agreed to reschedule the deadline to December 8, 2023.

The deal with Borealis is expected to be closed in the third quarter of 2023.

Source

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Kenes Rakishev, entrepreneur and former special envoy for Kazakhstan and Vyacheslav Kim, both among the Top 10 richest businessmen in Kazakhstan according to Forbes, have announced their intention to create a new venture fund based on the International Financial Center in Astana.

They shared their plans at the “Build Your Own Business” grants ceremony organized by the Saby Foundation. The finalists of the competition received a total of $330,000 in grants from Rakishev and Kim to develop their projects.

The businessmen have not disclosed the fund’s business plan or whether they have been in talks with other potential investors. However, given the growing economic role of Kazakhstan in Central Asia, major global investors show interest in the new fund, which will be aimed at larger projects to help entrepreneurs to scale up.

Rakishev is a major venture investor and President of Fincraft Group, while Kim is the Chairman of the board of directors of Kaspi.kz, the largest fintech company in Kazakhstan created on the basis of the bank “Kaspi”.

Kenes Rakishev and Vyacheslav Kim announced their intention to create a new venture fund based on the International Financial Center in Astana.

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This is stated in an extract from the system of registers of shareholders

The share of businessman Kenes Rakishev in the Fincraft investment house decreased to 9.9%. This is stated in an extract from the system of registers of shareholders of Fincraft Investment House JSC as of March 7, 2023, posted on the website of the Kazakhstan Stock Exchange (KASE), the correspondent of the Kapital.kz business information center reports.

According to KASE, as of January 1, 2023, the share of businessman Kenes Rakishev in the company was 40%.

According to this extract of shareholders, the total number of declared ordinary shares of the company is 28,268,573 pieces. Of these, 27,595,700 ordinary shares of the company were placed. The list of shareholders who own 5% or more of the total number of outstanding shares is as follows: Mukash Iskandirov – 40% (11,038,281 ordinary shares), Kenes Rakishev – 9.9% (2,759,569 ordinary shares), Rashid Amirov – 9.9% (2,759,569 ordinary shares), Suleimenov – 9.9% (2,759,569 ordinary shares), Amankeldi – 9.9% (2,759,569 ordinary shares), Nurgaliyev – 9.9% (2,759,569 ordinary shares), Dzhunusbekov – 8.4% (2,345,634 ordinary shares).

It should be noted that in November 2022, it became known from the extract of the company’s shareholders that the share of businessman Kenes Rakishev in the Fincraft investment house was reduced from 50% to 40%.

Investment house Fincraft, according to the company’s reporting, provides services for the issue and placement of securities, financial consulting services.

On December 30, 2022, the investment house announced its decision to voluntarily waive licenses for brokerage and dealer activities with the right to maintain client accounts as a nominee and for investment portfolio management without the right to attract voluntary pension contributions.

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