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Kuwait’s Beyout targets $147m from IPO

By Pramod Kumar
Kuwaits Beyout Investment Group is selling a 30 percent stake, or 90 million shares, on the local bourse Kuna
Kuwaits Beyout Investment Group is selling a 30 percent stake, or 90 million shares, on the local bourse

Kuwait’s Beyout Investment Group (BIG) has set the price of its initial public offering (IPO) between 480 and 500 fils per share. 

The company plans to raise up to KD45,000,000 ($147 million) by selling a 30 percent stake, or 90 million shares, on the local bourse, the first in nearly two years.

The final offer price is expected to be announced on May 26. The book-building period began on May 19 and will end on May 23.

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The shares will likely start trading in June on Boursa Kuwait, subject to approval.

Established in 1991, BIG provides manpower and manages real estate projects, including build-operate-transfer and public-private partnership projects.

Some of its major customers are US army contractors, Kuwait Oil Company, Kuwait National Petroleum Company, Petrochemical Industries Company and the Ministry of Health.

The company achieved a revenue growth of 13 percent and a normalised Ebitda margin of 30 percent over the last three years.

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