Kazatomprom has announced it will be participating in a physical uranium fund, ANU Energy OEIC Limited. The company’s initial USD $50 million of purchases are financed by founders and plans for additional investments up to $500 million dollars over two stages at Astana International Financial Centre (AIFC).
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The initial USD $50 million will be funded by Kazatomprom at 48.5%, National Investment Corporation of the National Bank of Kazakhstan (NIC) at 48.5%, and UAE-based investment company Genchi Global Limited at 3%. Genchi will be the fund manager.
Once the fund is up and operating, an additional public or private offering is planned to raise capital of up to USD $500 million from institutional and/or private investors, with the proceeds to be used for additional physical uranium purchases.
The timing and details of this second development stage will be determined by market conditions, Kazatomprom said.
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