Kenges Rakishev, Confident in US IPO Market for 2024, Following Borealis Foods' Nasdaq Debut

This is a statement we sent to the media after the Bell Ringing Ceremony of Borealis at Nasdaq, on February 15th. Borealis Foods has gone public after completing a business combination with Oxus Acquisition Corp., Central Asia’s first SPAC, which I funded and promoted in 2021:

New York, 15th February.- Kazakh investor Kenges Rakishev expressed today his confidence in the strength of the US IPO market in 2024, minutes after the Bell Ringing Ceremony of Borealis Foods (NAQ: BRLS) at Nasdaq's Marketsite in New York.

Borealis went public last Thursday after completing a previously announced business combination with Oxus Acquisition Corp., Central Asia's first SPAC ever, which Rakishev facilitated and funded starting in 2021.

"Kazakhstan's investors like me continue to believe in the resilience and soundness of the U.S. market and see outstanding opportunities for companies going public in 2024," Rakishev said after the event.

"Having said that - and even when we are confident in the new listings - we want to see more real-economy companies, solid and perhaps more traditional companies in its ways, but with a clear successful path ahead," he explained. "We are looking forward to supporting those."

He previously served as Non-Executive Chairman of the Oxus Acquisition Corp. from its inception as a SPAC until the completion of the business combination last week.

Almaty-based Kenges Rakishev is one of the most well-known investors in Kazakhstan and Central Asia. He serves as the President of Fincraft Group LLP, a diversified holding company listed on the Kazakhstan Stock Exchange (KASE).

In 2024, his main investment objectives will be in energy security natural resources, especially in America, the European Union, and Central Asia.