112 Bourse tender win for NIC-led group

IPO at later stage

KUWAIT CITY, Feb 14, (RTRS): A consortium led by Kuwait’s National Investment Co has won the tender to acquire 44 percent of the Kuwait stock exchange, NIC’s chairman said on Thursday.

“The winner is the private sector, the investors and the listed companies, all the ideas we said about developing the bourse will be implemented,” Hamad Al-Omairi told Reuters.

The consortium, which includes Athens Stock Exchange, Arzan Financial Group and First Investment, offered 237 Kuwaiti fils per share for the stake purchase, he said.

The Kuwait’s stock exchange, meanwhile, has plans for an initial public offering at a later stage, the CEO of the Athens bourse said on Thursday.

“There are plans by the Kuwait exchange for an IPO at a later stage to sell 50 percent and get listed,” Socrates Lazaridis, CEO at Hellenic Exchanges told Reuters.