From Kazatomprom, October 18:
KAP announces investment in physical uranium fund
18 October 2021, Nur-Sultan, Kazakhstan
JSC National Atomic Company "Kazatomprom" ("Kazatomprom" or "the Company") is pleased to announce that its Board of Directors has passed a resolution to participate in a physical uranium fund, ANU Energy OEIC Ltd. ("ANU Energy" or "the Fund"), established on the Astana International Financial Centre (AIFC). The Fund will hold physical uranium as a long-term investment with its initial purchases financed through the founders' round investment totaling US$50 million, sourced from Kazatomprom at 48.5%, National Investment Corporation of the National Bank of Kazakhstan (NIC) at 48.5%, and Genchi Global Limited (the Fund Manager) at 3%.
Once the Fund is operating, a second stage of development is expected to be carried out through an additional public or private offering, with the timing and details to be determined by market conditions. At the second stage, the Fund is expected to raise capital of up to US$500 million from institutional and/or private investors, with the proceeds to be used for additional uranium purchases....
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HT: the FT's natural resources editor, Neil Hume
