Kenges Rakishev shared a plan for Kaznickel IPO

K

Kenges Rakishev, a well known businessman and entrepreneur shared a plan to attract $260 millions. The funds will be attracted in a framework of the upcoming Kaznickel IPO. Funds will be directed to extend Gornostaevskoe mining plot to the next level.

Fincraft Resources company (Kazakhstan) is in contact with numerous agencies while preparing the planed listing of Kaznickel IPO on Hong Kong exchange. Fincraft is the parent company of Kaznickel. Kazinickel is a major cobalt and nickel mining and refining company, Fincraft CEO Kenges Rakishev told the press.

IPO is scheduled to be held in the end of 2019. A quarter of the company assets in total will form a $260 millions in shares. The IPO will allow to fully finance the next phase of the Gornostaevskoe deposit mining operations. Gornostaevkoe has rich cobalt and nickel deposits. Listing will also take place in Astana, the capital of Kazakhstan. Kenges Rakishev has not named the main consultant for the Hong Kong listing but hinted that it is one of the leading companies in South-East Asia.

Kenges Rakishev
Kenges Rakishev
Asian investors are interested in the IPO, according to Kenges Rakishev briefing. One of the Kazakhstan state funds is in talks with Fincraft Resources and is likely to participate in the pre-IPO investment round. Prospected nickel deposits under control of Kaznickel reach 1 millions of metric tons of nickel and 100,000 tons of cobalt. Such deposits make Gornostaevskoe one of the most important among Asian fields.
Kenges Rakishev shared a plan for Kaznickel IPO
Kenges Rakishev underlines that investors are interested in technology used to harvest the nickel. The technology was developed by Kazatomprom. It allows to make the whole process significantly cheaper. Starting from the September the technology will be available for an open display and it will bolster the IPO success.

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Nicholas de Kramer

Nicholas de Krammer, а self-taught economic analytic with heave mathematical background. Math behind the economics (and economics behind math) is the strong side of the author. Contact him at [email protected]

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