Alghanim Industries considers listing a minority stake on Boursa Kuwait

Alghanim Industries considers listing a minority stake on Boursa Kuwait

KUWAIT: Executive Chairman of Alghanim Industries Kutayba Y Alghanim said on Sunday that the Group is considering the idea of listing a minority stake on the Boursa Kuwait’s Premier Market. The listing, still under study, may be through an initial public offering (IPO) and its implementation depends on several factors. Although the percentage of the stake on offer has not been announced, it is expected that the stake could be around 35 to 45 percent.

“I would like to announce my intention of exploring the possibility of publicly listing a minority interest of the Kutayba Alghanim Group (Alghanim Industries) on the Premier Market of Boursa Kuwait. While there are many factors beyond our control that may ultimately impact our final decision in this regard, I would like to share with you my thinking regarding a public listing,” Alghanim said in an internal memo.

“Our companies under Alghanim Industries have thrived for over 100 years as a family-owned business. To sustain our path of growth in the future, we anticipate expansions in businesses and geographies. I strongly believe that the scrutiny and regulations inherent in a journey to public listing will make us even stronger and ensure the continuity of our organization,” he pointed