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Kuwait’s Alghanim Industries mulls minority stake listing

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Alghanim Industries’ possible listing of a minority stake on Kuwaiti bourse aims to strengthen its business and ensure continued growth

Kuwait-based Alghanim Industries executive chairman of Kutayba Y. Alghanim has announced plans to list a minority stake on Boursa Kuwait’s Premier Market, Kuwait Times reported. 

“I would like to announce my intention of exploring the possibility of publicly listing a minority interest of the Kutayba Alghanim Group (Alghanim Industries) on the Premier Market of Boursa Kuwait,” the report quoted him as saying, citing an internal company memo.

“While there are many factors beyond our control that may ultimately impact our final decision in this regard,” he stated.

The executive chairman said that the market environment is very supportive for companies such as Alghanim Industries to enter the public market, according to the news report.

Although the listing percentage was not announced, the newspaper report expected the stake to be between 35 and 45 percent.

Alghanim Industries is one of the largest, privately-owned companies in the Middle East and North Africa. It employs more than 15,000 people in 30 businesses across 40 countries in the Middle East, North Africa, Eastern Europe and Asia.