Mezzan Holding KSCC (Mezzan) on Monday declared it had filed an application with Kuwait's Capital Markets Authority to list on the Kuwait Stock Exchange (KSE).
The company plans to list on the official bourse following a secondary offering of 88.95 million shares, representing 30% of the company, led by Watani Investment Company KSCC (NBK Capital).
The offering's objective is to expand the company's shareholder base, and will commence following the Capital Markets Authority (CMA)'s approval.
Mezzan Holding Chairman Khalid Jassim Al Wazzan, said, "Today's announcement marks a major milestone for the company and the Gulf's private sector. Upon Mezzan's successful listing on the KSE, investors will have a unique opportunity to invest in the Gulf's growing businesses.
With a legacy of 70 years, Mezzan Holding is a leading vertically-integrated manufacturer, distributor, and provider of food, beverage, and FMCG products and services in Kuwait, the UAE and Qatar, with a growing Middle East footprint. In 2013, the group recorded revenues of KD141 million, 75% of which were generated by consumer-driven sectors.