Kuwaiti car distributor Ali Alghanim's $3bn IPO 11 times oversubscribed

Follow-ups -eshrag News:

Mon, 2022-06-06 17:14


RIYADH: Kuwaiti car distributor Ali Alghanim and Sons Automotive Co raised more than $3 billion in a private placement ahead of its public offering, which was 11 times oversubscribed, according EFG Hermes.

The firm has listed 124.8 million shares for 793 Kuwaiti fils a share, representing 45 percent of its share capital, with a market capitalization of $717 million.

This makes the automotive firm the first IPO in the Kuwaiti stock market since 2020.

Main category: 
Business & Economy

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