Tuesday, Oct 03, 2006
KUWAIT CITY (Zawya Dow Jones)--Kuwait-based medical company Al Mowasat Holding Co. will list on the Kuwait Stock Exchange Oct. 9, KIPCO Asset Management Co., which will manage the listing, said Tuesday.
"The company will list October 9th," a KIPCO official told Zawya Dow Jones.
The company received its listing approval last June, along with recent market entrants Aviation Lease & Finance Co., Kuwait Gypsum Manufacturing & Trading Co. and Bank of Bahrain & Kuwait.
The 8 million Kuwaiti dinar ($27.6 million) company, which owns one of the leading private hospitals in Kuwait, raised $22.5 million through a leasing contract to finance its expansion in February.
The company plans to increase the number of the rooms in the New Mowasat Hospital, develop its equipment and contribute towards equipping the "Medical Plaza" building by mid-2007.
-By Sara Ismail, Dow Jones Newswires,+965 9349692; djnews.dubai@dowjones.com
(END) Dow Jones Newswires
10-03-06 0744ET
Copyright Zawya Dow Jones Newswires 2006
