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Shares soar while Kenes Rakishev keeps silence about true OXUS targets

There are speculations that OXUS will acquire StoreDot to make the innovative company public

20.Nov.21 11:11 AM
By Shawn Highstraw
Photo Reddit


Shares soar while Kenes Rakishev keeps silence about true OXUS targets
The activity of Kenes Rakishev in acquisitions of promising startups isn't left unnoticed by market analytics. OXUS SPAC, the latest IPO made by Kenes Rakishev, keeps silence on what the company will actually acquire. Larry Ramer, a well informed journalist, speculates that it may be StoreDot, an Israeli startup which has a potentially disruptive role in the whole battery market. Something, in which Kenes Rakishev is actually investing in his other projects.

Larry Ramer, an experienced financial journalist writing for turned attention to Oxus SPAC company. This special acquisition company has made an IPO on NASDAQ exchange. Kenes Rakishev, an entrepreneur from Kazakhstan is behind the Oxus. The IPO was highly successful, but until now nobody really knows what is the target for the acquisition. Larry Ramer in his piece, '4 Pre-Merger SPACs to Buy That Are Poised to Soar' guesses that StoreDot, an Israeli battery innovative startup company may be a potential target for Kenes Rakishev's OXUS.

Kenes Rakishev's OXUS stock is the only one on this list of SPACs that hasn’t yet chosen a target. However, I [Larry Ramer -ed.] have included it [in the list of four SPACs to buy] because there are indications that the company may choose a target that will be truly disruptive.

This SPAC is focused on clean energy businesses in emerging countries. Its sponsor is Kenes Rakishev, a global investor and entrepreneur from Kazakhstan. More interesting, though, is that Rakishev is the same investor who reportedly founded Singulariteam, one of the initial investors in Israeli battery maker StoreDot. Could StoreDot potentially be the target for Oxus?

There would certainly be some benefits if that is the case. For example, this Israeli company has developed an EV battery that can be recharged in only five to ten minutes. Furthermore, it is in advanced talks with multiple automakers. British Petroleum, Samsung, TDK and Daimler have all invested in StoreDot. Back in March, StoreDot was also reportedly looking to launch an initial public offering (IPO) through a SPAC.

But the icing on the cake? Early Bird Capital — which has launched many high-profile SPAC IPOs like Tatooed Chef (NASDAQ:TTCF), Velodyne (NASDAQ:VLDR) and Microvast (NASDAQ:MVST) — is an underwriter of Oxus.

So, even if Oxus does not merge with StoreDot, there’s a great chance this SPAC will find a target that greatly excites investors — especially given the combined talents of Kenes Rakishev and Early Bird.

On the date of publication, Larry Ramer held long positions in DWAC and OXUS.

Larry Ramer has conducted research and written articles on U.S. stocks for 13 years. He has been employed by The Fly and Israel’s largest business newspaper, Globes. Larry began writing columns for InvestorPlace in 2015. Among his highly successful, contrarian picks have been GE, solar stocks, and Snap. You can reach him on StockTwits at @larryramer.

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