Ali Alghanim & Sons Automotive Company lists on Boursa Kuwait

Ali Alghanim & Sons Automotive Company lists on Boursa Kuwait

KUWAIT: Boursa Kuwait witnessed on Tuesday the listing of Ali Alghanim & Sons Automotive Company KSCC, marking a historic milestone as the first family-owned company and automotive agents to be listed on an exchange across the Gulf markets. The company stated the public offering which took place a few days prior was oversubscribed approximately 11 times, mirroring investors’ trust, considering the high demand during the subscription process for 45 percent of the company’s shares.

The company’s decision to be listed on the stock market was made in line with the forward-looking approach to current global market trends and the positive outlook for the near future. It also supports the company’s vision to expand investment horizons, specifically in terms of faltering family-owned companies on both regional and international levels, as it reaches the third generation, where majority of economic indicators show that public shareholding companies will dominate the investment scene in the near future.

The company also stated that the official listing on the Kuwait bourse stems from its sense of responsibility as a leading company in the region in general, and in Kuwait specifically, which aims at adopting the principles of transparency and governance. It also seeks to expand its scope of