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Borealis Foods to Go Public by Fourth Quarter 2023?


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Frankfurt, Brussels (30/7 – 27)

Kenges Rakishev, international entrepreneur, philanthropist and former special envoy of the Kazakh government, is leading the charge for an upcoming Nasdaq listing of Borealis Foods Inc., a fast-growing food tech company imbued with a mission to serve growing consumer needs. Rakishev intends to tackle global food challenges by developing nutritious, sustainable, and affordable ready-to-eat meals. This product is currently on sale in US and Canadian markets, with ambitious, imminent plans for a European market invasion. The Company stands at the forefront of innovation, having pioneered the world’s first plant-based ramen meal on a mass scale, boasting 20 grams of comprehensive protein per serving.

Bear in mind that passing the multiple hurdles necessary for approval of food-grade imports in western countries is a major challenge, and an expensive one. Matching food and pharmaceutical standards is exacting, but Borealis has done it.

Rakishev serves as Non-Executive Chairman of Central Asia’s first “Special Purpose Acquisition Company” (SPAC), listed as the “Oxus Acquisition Corp.” (NASDAQ:OXUS) IPO. Under Rakishev’s leadership, together with the acumen and dedication of CEO Kanat Mynzhanov, the firm has successfully navigated Oxus Acquisition through the complexities of a SPAC formation and listing, setting the stage for its upcoming partnership with Borealis Foods, set to go public before 4Q 2023.

Following the successful completion of Central Asia’s first Special Purpose Acquisition Company (SPAC), Oxus Acquisition Corp.’s IPO, Non-Executive Chairman Kenges Rakishev aims for upcoming Nasdaq listing of Borealis Foods Inc. Rakishev’s leadership roles have not been confined to Oxus Acquisition alone. Since March 2021, he has served as the President of Fincraft Group LLP, a diversified holding company listed on the Kazakhstan Stock Exchange.

This listing marks a significant milestone for the Central Asian business landscape and a landmark achievement in Rakishev’s investment career.

With a significant history of acquiring and investing in over 50 businesses in industries as varied as metals & mining, oil, petrochemicals, banking, fintech, information technology, ecommerce, logistics and insurance, Rakishev’s diverse investment portfolio includes some ten global-scale companies, demonstrating his knack for successfully identifying and driving growth in businesses anywhere.

Rakishev’s leadership roles have not been confined to Oxus Acquisition alone. Since March 2021, he has served as the President of Fincraft Group LLP, a diversified holding company listed on the Kazakhstan Stock Exchange. Rakishev has also been the Chairman of the Board of Fincraft Resources JSC since September 2008, a diversified holding focused on natural resources and disruptive technology industries. Furthermore, up until December 31, 2021 he held leadership positions at Battery Metals Technologies Ltd., an electric vehicle battery metals firm.

From 2013 to May 2018, Rakishev served as a Non-executive Director of Central Asia Metals Plc and was the controlling shareholder and Chairman of Kazkommertsbank JSC, the largest Kazakh commercial bank, from March 2015 to June 2017.

According to Forbes national rating, Rakishev burst into the ranks of the “Top-50 businessman of Kazakhstan” in 2013. Now he has ascended to the “Top-10”, keeping his highly diversified empire under control.

Rakishev has committed his time and energy to a variety of philanthropic activities, alongside his wife Aselle Tasmagambetova, through their Saby Foundation, the oldest charity fund in Kazakhstan, established in 2002. Saby supports young people seeking access to optimal education and career opportunities, as well as healthcare upgrading in Kazakhstan; it also empowers young entrepreneurs and business owners to develop their ventures. In 2020, Saby Foundation joined an ambitious battle to save the endangered Caspian seal from extinction.


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