Kuwait: Boursa Kuwait announced the listing of Beyout Investment Group (BIG) Holding Company in its “Premier” Market, where the trading of the company’s stocks is set to commence from the opening trade session of 11 June 2024 under the ticker symbol 'Beyout'. The company will be included under the 'Financial Services’ sector, bringing the total count of companies listed on the exchange to 146, with 34 in the “Premier” Market alone.

BIG Holding Company’s strategic decision to list 30% of its shares aims to diversify its shareholder base, strengthen the company’s governance structures, and broaden its network and visibility among its principal investors. This listing is also anticipated to yield substantial benefits for the Kuwaiti capital market by expanding the roster of listed companies, enhancing investment prospects, and encouraging further listings, which will reflect positively on the market and ultimately accrue benefits to investors.

Commenting on the listing, Boursa Kuwait’s Chief Executive Officer Mr. Mohammed Saud Al-Osaimi said: 'Boursa Kuwait consistently seeks to attract substantive listings that enhance the stock market's value, an effort that aligns with our strategic aim to cultivate a robust financial market renowned for its liquidity and integrity. Over the past few years, the exchange has worked closely with prospective listed companies, elevating our listing standards and criteria to suit a diverse range of businesses from multiple industries, with a particular focus on family-owned and public-private enterprises.'

'Boursa Kuwait is dedicated to reinforcing the strengths of the Kuwaiti capital market as a globally attractive investment destination while elevating its profile as a leading stock exchange in the region. These endeavors are instrumental in realizing the national vision of establishing Kuwait as a premier financial and investment hub in the Middle East,' Mr. Al-Osaimi added.

Founded in 2006, BIG Holding Company is a leading regional investment company that provides integrated human resources solutions in addition to support services for real estate sector projects, including property management, build-operate-transfer services and enhancing public-private partnerships.

The company has appointed the National Investments Company and EFG Hermes Emirates Limited (in cooperation with EFG Hermes Emirates LLC) as Joint Global Coordinators and Joint Bookrunners as well as appointing the National Investments Company as its listing and financial advisor.

Commenting on the listing, BIG Holding’s Group Chief Executive Officer Eng. Abdulrahman Mohammed Al-Khanna said: “The listing of Beyout Investment Group Holding Company is the culmination of our efforts to strengthen our position as a leading Kuwaiti company in the region. Over the past years, we have focused our efforts on developing our operations, improving efficiency and upgrading our practices in line with international standards with the aim of consolidating our position as a trusted partner for government agencies and global brands across various sectors.”

He added, “This achievement provides new opportunities to create value for all stakeholders, supports our goals of continuing to innovate in our service package, and achieve expansion in the region. We extend our sincere thanks to our partners for their trust and continuous support, as we record a new chapter of success to be added to our legacy and confirm our commitment to continue our path towards sustainable growth.”

The National Investments Company led the private subscription for the secondary offering of 30% of BIG Holding Company’s currently issued shares, initiated from May 19 to June 2, 2024, and met with great demand by local and international investors on both the retail and institutional level. The order amount exceeded the value of the offering during the initial allocation period by more than 17 times, with an initial coverage of KD 771 million that was in line with the subscription's target to offer 90 million shares of the company at 500 fils per share for a total value of more than KD 45 million for qualified investors, which reflects the great confidence in the company's quality and performance in addition to the high professionalism demonstrated by NIC in managing the subscription.

NIC Board Member and Chief Executive Officer Mr. Fahad Abdulrahman Al Mukhaizim commented on the listing, saying: “The National Investments Company is proud to play a pivotal role in the private placement of Beyout Investment Group Holding Company, handling the necessary arrangements for the listing process on Boursa Kuwait's “Premier” Market within the targeted timeframe. NIC served as the joint global coordinator and subscription manager for the private placement process of Beyout Investment Group Holding Company, in addition to its role as the exclusive financial advisor for the listing process.”

AlMukhaizim highlighted the successful role played by the National Investments Company in managing the listing, which enhances NIC’s strength and its position as one of the largest investment entities locally and regionally with several decades of experience in managing IPOs and distinctive listings, praising the capabilities of the company's highly experienced and professional team.

Boursa Kuwait recently conducted a specialized awareness session on the post-listing ongoing obligations within the 'Premier' Market, which was attended by several members of BIG Holding Company’s executive management. This educational initiative is a cornerstone of Boursa Kuwait’s strategic efforts to elevate the understanding and adherence to the ongoing obligations required from companies preparing to list, efforts that are integral to the exchange’s mission to continually enhance the capital market and its participants.

Participants gained insights into their responsibilities following listing, encompassing both the Capital Markets Authority’s executive regulations and the ongoing obligations dictated by the exchange's rules. The session also provided a practical demonstration of the automated disclosure system used by listed companies along with a discussion on the schedule of stock entitlements and requisite corporate actions.

Boursa Kuwait has been a key driver in the development of the Kuwaiti capital market and the diversification of the national economy, in line with the goals of the “New Kuwait” vision. Since its inception, the company has worked diligently to create a thriving capital market that attracts local and foreign investors through a broad spectrum of new products and services, infrastructure upgrades, and market reform initiatives, as part of its multi-phase market development plans.

Boursa Kuwait was fully privatized in 2019, the first government entity in the country to successfully undergo the process, bringing about greater levels of efficiency. It has also been self-listed since September 2020 and has made great strides in sustaining its operations and business continuity in the face of uncertainties and challenges.

The company has rolled out numerous market reforms and new initiatives as part of its comprehensive multi-phase market development (MD) plans and showcases some of the standout listed companies and the investment opportunities that reside in the Kuwaiti capital market through its series of Roadshows and Corporate Days, putting these companies in touch with some of the world’s leading investment firms and financial institutions and highlighting their financial health and business strategies and outlooks, to help investors gain an in-depth understanding of the benefits and opportunities of investing in Kuwaiti companies.


About Boursa Kuwait:

The establishment of Boursa Kuwait in 2014 marked the first step in the privatization project of the Kuwait Stock Exchange, which was founded in 1977 as the first exchange in the Gulf Cooperation Council region and was reorganized in 1983 as an independent financial institution. The transitional phase began in 2016, with Boursa Kuwait officially assuming the responsibilities and operations of the Kuwait Stock Exchange, replacing it with an official license in the same year after the successful completion of the transitional phase. This ensured that Boursa Kuwait developed the infrastructure and operated according to best practices and international standards. It commenced the creation of an advanced, reliable trading platform built on efficiency, credibility, and transparency to serve all asset classes with a focus on the interests of traders and the national economy.

Boursa Kuwait has undertaken various market reforms as part of its comprehensive plans to enhance it in several stages. It succeeded in introducing innovative investment tools, enhancing transparency, and restructuring the market to increase its liquidity and competitiveness, based on its mission-focused strategy, which emphasizes developing the market to meet international standards. The company's developmental and improvement efforts have also contributed to the reclassification of the Kuwait market as an «emerging market» among key global index providers, enhancing Kuwait's position as a leading regional financial center.

In a pioneering step in Kuwait's privatization field, the privatization of Boursa Kuwait was successful, conducted in two stages. The first stage was in February 2019 when a consortium of Kuwaiti investment companies and a global exchange operator won the privatization bid, acquiring a 44% stake in the company.

In December 2019, the privatization process was completed through the public offering of a 50% stake owned by the Capital Markets Authority to Kuwaiti citizens, with the offering oversubscribed by more than 850%. Boursa Kuwait is listed on the «Premier Market» under the name «Boursa».

For further information, please contact:
Ahmad Rashed Al-Owaish
PR and Media Manager - Boursa Kuwait
Email:                aalowaish@boursakuwait.com.kw