KazKom purchases BTA, Kenes Rakishev purchases KazKom

©Tengrinews

KazKommertsBank (KKB) has announced that it acquired 304,187,299,781 common shares of BTA Bank (BTA) at 0.24162 tenge per share from Kenes Rakishev, Tengrinews reports the press release of the Bank as of March 3.

KKB is one of the largest banks in Kazakhstan and Central Asia. The purchase was part of the integration model approved by the shareholders of the two banks on 26 December 2014.

As a result, KKB’s holding in BTA increased from 47.415% to 94.83%. This, together with the common shares of Samruk-Kazyna National Wealth Fund that are in trust management of KKB (4.26%), provided KKB with 99.09% of the voting rights in BTA.

In the meanwhile, Kenes Rakishev purchased 127,777,704 common shares of KKB at 575.2 tenge per share under a share offering agreement. Kenes Rakishev thereby became a major shareholder of KKB.

KKB presented its shareholding structure:

Kenes Rakishev is a 34-year-old entrepreneur and venture investor. He is the Chairman of the Board of Directors of SAT & Company, Chairman of the Board of Directors of Net Element (the first American company with Kazakhstani capital to be listed on the high-tech NASDAQ exchange), Member of the Board of Directors of the largest Russian venture fund Fastlane Ventures, Co-founder of the global venture fund Genesis Angels. He is the sole shareholder of Standard Insurance Company (previously Astana Finance Insurance Company). He is also the main shareholder of Bank Astana Finance.

KazKommertsBank (KKB) has announced that it acquired 304,187,299,781 common shares of BTA Bank (BTA) at 0.24162 tenge per share from Kenes Rakishev, Tengrinews reports the press release of the Bank as of March 3.

KKB is one of the largest banks in Kazakhstan and Central Asia. The purchase was part of the integration model approved by the shareholders of the two banks on 26 December 2014.

As a result, KKB’s holding in BTA increased from 47.415% to 94.83%. This, together with the common shares of Samruk-Kazyna National Wealth Fund that are in trust management of KKB (4.26%), provided KKB with 99.09% of the voting rights in BTA.

In the meanwhile, Kenes Rakishev purchased 127,777,704 common shares of KKB at 575.2 tenge per share under a share offering agreement. Kenes Rakishev thereby became a major shareholder of KKB.

KKB presented its shareholding structure:

Kenes Rakishev is a 34-year-old entrepreneur and venture investor. He is the Chairman of the Board of Directors of SAT & Company, Chairman of the Board of Directors of Net Element (the first American company with Kazakhstani capital to be listed on the high-tech NASDAQ exchange), Member of the Board of Directors of the largest Russian venture fund Fastlane Ventures, Co-founder of the global venture fund Genesis Angels. He is the sole shareholder of Standard Insurance Company (previously Astana Finance Insurance Company). He is also the main shareholder of Bank Astana Finance.

news KazKommertsBank Kazakh Kazakh finance CIS Central Asia business BTA Bank