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KUWAIT CITY, June 7: Boursa Kuwait announced on Tuesday the listing of Ali Al-Ghanim and Sons Automotive Company in the premier market within the consumer services sector. CEO of Boursa Kuwait Mohammad Al-Osaimi said in a press conference that the listing step is considered an added value to the market, which may result in other listings of new family-owned companies, thus benefiting the stock exchange. The company offered 45 percent of its capital for subscription, representing 125 million shares, at a price of 793 fils per share.
The subscription was covered 11 times, with a value of nearly KD one billion (about USD 3.6 billion). The company was established in 2018, with an authorized capital of KD 27.7 million (roughly USD 99.7 million), as the main activities of the company are the sale and purchase of cars and their spare parts , (KUNA)