The offering period for subscription to the shares of the Investment Houses Group in Kuwait for all qualified investors begins on May 19, 2024 and ends on June 2, 2024.
Al Bayout Investment Group, which specializes in providing integrated human resources solutions in addition to continuous support services for projects, including property management, announced its intention to initiate a private secondary offering of its shares and list them in the…Kuwait Stock Exchange.
The offering includes the sale to the company’s shareholders of 30% of the outstanding shares through a private placement, and the final offering price will be announced through the price construction mechanism.
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The shares are expected to be listed for trading on the Kuwait Stock Exchange during June 2024.
The selling shareholders reserve the right to amend the size of the offering at any time before the end of the subscription period at their own discretion, taking into account the laws in force in Kuwait and the approval of the Capital Markets Authority in Kuwait.
The offering is limited to professional investors and other qualified investors in a number of countries, including Kuwait, with the exception of the United States of America.
The offering period for subscription to shares for all qualified investors begins on May 19, 2024 and ends on June 2, 2024 at 1:00 pm Kuwait time.
This offering is an important step towards diversifying the shareholder base, strengthening the company’s governance framework, and expanding its network and presence among major shareholders in preparation for listing its shares on the Kuwait Stock Exchange. National Investments Company and EFG Hermes Emirates Limited have been appointed as joint lead coordinators for the private placement.
The deal provides investors with an investment opportunity in a diversified business model that provides comprehensive human resources solutions, in addition to continuous support services for projects, as well as real estate property management services, including build-operate-transfer projects and public-private partnership projects.
