ALMATY (TCA) — JSC Kazkommertsbank, one of the largest banks in Kazakhstan and Central Asia, yesterday announced that it has acquired 304,187,299,781 common shares of BTA Bank at a price of 0.24162 tenge per common share from Kazakh businessman Kenes Rakishev. This was in line with 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 JSC Samruk-Kazyna National Wealth Fund in the trust management of KKB (4.26%), provides KKB with 99.09% of the voting rights in BTA. In addition, Kenes Rakishev purchased 127,777,704 common shares of KKB at a price of 575.2 tenge per common share under the share offering agreement announced earlier. Following this transaction and after receiving necessary regulatory approvals, Rakishev is now a major shareholder of Kazkommertsbank.
The shareholding structure of KKB is now as follows: JSC Central Asian Investment Company (CAIC) — 23.27%, Nurzhan Subkhanberdin — 18.64%, JSC Alnair Capital Holding — 28.08%, National Wealth Fund Samruk-Kazyna — 10.72%, Kenes Rakishev — 16.02%, and minority shareholders — 3.27%.
Kenes Rakishev is a 34-year-old entrepreneur and venture investor. He is Chairman of the Board of Directors of SAT & Company; Chairman of the Board of Directors of Net Element, the first American company with Kazakhstan 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, which specializes in start-ups and breakthrough technologies in robotics. He owns 20% of the shares of Central Asian Metals PLC (CAML), which is traded on the London Stock Exchange. He is the sole shareholder of Standard Insurance Company (previously Astana Finance Insurance Company). In March 2013, he became the main shareholder of JSC Bank Astana Finance.