The Fund with the participation of Kazyna Capital Management withdrew from the project in the transportation sector

The private equity fund of Baiterek Venture Fund JSC announced the successful withdrawal from the project of Allure Group of Companies JSC. Allur Group of Companies JSC is a shareholder of the largest car manufacturer in Kazakhstan SaryarkaAvtoProm LLP, the official distributor, manufacturer and dealer of the brands JAC, Ankai, Yutong, Chevrolet, Ravon KIA, Niva Chevrolet, UAZ, MAN in the territory of the Republic of Kazakhstan. In 2015, Baiterek Venture Fund JSC became the owner of 15.5% of the company's common shares within the framework of the investment project "Improvement and stabilization of the financial and economic condition of the automotive sector of Allure Group of Companies JSC". At the end of 2020, Baiterek Venture Fund JSC completely withdrew from the shareholders of Allure Group of Companies JSC. The investment increase under the transaction amounted to more than 1 billion tenge, the IRR indicator – 7.6%. During the period of the fund's participation in the project, more than 85 thousand cars were produced and sold, about 1,300 jobs were created, and 9.4 billion tenge was paid to the state budget. Kazyna Capital Management JSC is a Private Equity Fund established in 2007, whose main mission is to develop private equity infrastructure in Kazakhstan to promote the sustainable economic development of Kazakhstan. It is a subsidiary of Baiterek NMH JSC. For more information, please, visit: kcm-kazyna.kz. Baiterek Venture Fund JSC is the Direct Investment Fund established in 2014, provides financial support to domestic companies operating in priority sectors of the economy of Kazakhstan. It is a 100% subsidiary of Kazyna Capital Management JSC. For more information, please visit: bvfund.kz