Kuwait’s Beyout Investment Group to list on local bourse 

Kuwait’s Beyout Investment Group (BIG) has announced plans to offer a 30 percent stake on the local bourse, the first in nearly two years.

The final offering price will be determined through a bookbuilding process, which will be held from May 19 to 23, the company said in a statement. 

The shares are slated to list on Boursa Kuwait’s premier market segment.

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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.

Group CEO Abdulrahman Al Khannah said BIG is looking to consolidate its position and expand its service offering across the GCC, building on the success of its Kuwaiti business and serving the US government and its prime contractors in other regional locations.

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BIG held early roadshows with over 40 potential investors, including institutional investors and funds, in Kuwait, Saudi Arabia, Dubai, and London between mid-December and mid-January, Al Khannah told Reuters.

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

National Investments Company and EFG Hermes UAE have been appointed as joint coordinators.