Mezzan debuts on Kuwait Stock Exchange

kuwait — Mezzan Holding made its debut on the Kuwait Stock Exchange on Thursday, trading with the ticker ‘Mezzan’.

Mezzan Holding Vice-Chairman, Mohammad Jassim Mohammad Al Wazzan, said: “This is a testament to all the hard work and dedication of owners, managers, and staff over the last 70 years since the late Jassim Al Wazzan started his first small shop. Today we are a 7,500 employee company and our task now is to continue this legacy by delivering consistent growth to our shareholders and meeting our commitments to our customers, our suppliers, our staff and our shareholders.”

Mezzan Holding announced last month Q1 2015 results with KD52.9 million in revenue, up 10.6 per cent from Q1 2014, and KD5.5 million in net profit, up 24.8 per cent from Q1 2014. In 2014, the company reported KD182.5 million in revenue, up 28.2 per cent from 2013, and net profit of KD16.1 million, up 22.9 per cent from 2013.

“Today, Mezzan Holding brings investors from Kuwait and the Gulf a unique investment opportunity in one of the largest consumer-driven businesses in one of the most defensive, protected and private sectors. The move to list comes after a series of initiatives taken by the company to evolve Mezzan Holding into a public company in a structured, phased, and sustainable approach, turning it from a family institution into a public institution that champions and reflects the strength, legacy, and robustness of Kuwait’s private sector,” added Al Wazzan.