Kuwait: The National Investments Company (NIC) is a co-lead manager with EFG-Hermes UAE Ltd (EFGHermes), Kamco Investment Company (Kamco Invest), and KFH Capital Investment Company (KFH Capital), as well as acting as a global coordinator. I am. Ali Alghanim Sons Automotive Company (Ali Alghanim Sons) has announced that the private placement process has been successfully completed. This step precedes the listing of Ali Alghanim Sons, a leading equity holding company in Kuwait, consisting of a group of companies offering the best international car brands and services.

In a press statement, a representative of the consortium stated that the private placement was very successful as it attracted many domestic and foreign investors. It is important to note that the number of investors and the amount raised have exceeded the target several times.

The IPO will offer 124,875,000 million shares of Ali Alghanim Sons to eligible investors at a price of 793 fills per share (99 million won total) and is one of the basic requirements for listing on the Kuwait Stock Exchange. The purpose was to expand a certain shareholder base. Premier market. We received an initial demand of 1.08 billion KD, covering almost 11 times the offer price.

Fahad Abdullahman al-Muhai Jim

Fahad Abdulrahman Al-Mukhaizim, CEO of NIC, said: The successful listing of Ali Alghanim Sons is a very important milestone, which encourages the disclosure of other local and regional family-owned businesses, creating unique investment opportunities for investors, increasing liquidity and utilization. Possible investment opportunities will diversify. “

“NIC is the Global Coordinator and Global Coordinator in managing subscriptions from inside and outside Kuwait, coordinating between major regional and regional investment banks to successfully carry out this transaction, and managing all relevant logistics and technology operations. We have played a major role as coordinator. Our role as a listing consultant. We have taken the major steps in preparing the company to meet the requirements for listing on the premier market of the Kuwait Stock Exchange. We helped our shareholders in doing so, “added Alm Hai Jim.

Ali Alghanim Sons’ IPO has witnessed a large turnout from investors and the number of shares subscribed has exceeded the offer size, which reflects a great deal of confidence in our performance.

“We would like to thank Ali Alghanim Sons for their confidence in our ability to lead the entire process and members of the investment banking consortium who participated in the management of the IPO process. We are especially grateful to the Capital Markets Authority for overseeing the process and for their support throughout the process, and we appreciate the contributions of both Brusakwait and the Kuwait Clearing Company, “concluded Alm Hai Jim. ..

Faisalman Sur Salchow

Faisal Mansour Sarkhou, CEO of Kamco Invest, said: The high demand we have seen demonstrates our positive position and perception in the local market, as well as the experience and knowledge of our management and major shareholders. It also reflects the investor’s belief in holding a successful family-owned stake with promising investment opportunities. We pray for further success, progress and further achievements as a listed company. “

Mohamed Abou Samra, MD of EFG Hermes, said: The deal confirms EFG Hermes’ unique position in the Gulf market in general, especially in Kuwait, and has held a very successful investment conference in collaboration with strategic partner Bursakwait, within the promising Kuwait market. After emphasizing attractive investment opportunities. “.

Abdulaziz Nasser Al-Marzouq, CEO of KFH Capital, said: Ali Alghanim Sons is a clear investment opportunity to bring good profits to shareholders and add new quality to Boursa Kuwait. We hope that this list encourages other family-owned businesses in Kuwait to follow the example of Ali Arganim Sands. Family management could be a new attraction for investors as a leader in the private sector, and listing them on the stock market would further develop their activities and expand their business for the benefit of the national economy. Helps to do.

“The IPO process witnessed a great deal of cooperation and coordination by all parties, which contributed to the success and completion of the offer and subscription in the best possible way,” added Al-Marzouq. Ali Alghanim Sonsis is one of Kuwait’s leading publicly traded automobile companies and is the official distributor of numerous international brands with extensive experience in this area and a track record of providing various vehicle models to the Kuwait market. ..

Over the last 35 years, we have taken over a number of products and services, including heavy duty vehicles and equipment, distribution channels, maintenance and spare parts centers, car rental and inspection services. In 2009, we started our first overseas business outside Kuwait as a distributor of BMW and MINI brands in the Iraqi market, investing in the Egyptian market in partnership with other affiliates and starting business in late 2022. To do. Become the new official distributor of BMW and MINI cars.

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