|18 July, 2019

KAMCO wins contract to manage Boursa Kuwait Securities’ offering

KAMCO will complete the contracting procedures

A night view of the arch pylon on the Sheikh Jaber al-Ahmad Al-Sabah Causeway which will lead to the Future Silk City, in Kuwait Bay, Kuwait April 23, 2019. Image used for illustrative purpose.

A night view of the arch pylon on the Sheikh Jaber al-Ahmad Al-Sabah Causeway which will lead to the Future Silk City, in Kuwait Bay, Kuwait April 23, 2019. Image used for illustrative purpose.

REUTERS/Stephanie McGehee

Kuwait -KAMCO Investment Company won a tender to manage the offering of a stake in Boursa Kuwait Securities Company.

KAMCO will complete the contracting procedures, according to a bourse statement released on Thursday.

The transaction has no impact on the company’s financial statements.

A consortium led by Tri-International Consulting Group, KAMCO, and Oliver Wyman was appointed by the Capital Markets Authority (CMA), along with Al Ruwayeh & Partners and Al-Hossam Legal and Al-Turqi & Partners, to lead the privatisation process, according to KAMCO’s website.

KAMCO Investment Company reported a 470.5% year-on-year surge in profits during the first quarter of 2019, recording KWD 577,670 ($1.91 million).

Source: Mubasher

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