The Kuwait Financing Services Company, KFSC mandated Global Investment House as their listing advisor to carry out its listing on the Kuwait Stock Exchange (KSE). The listing was preceded by a private placement of 2.25 million shares at 200 fils, offered by some of KFSC’s shareholders.
The private placement was a swift success as the offer was oversubscribed and closed within hours. Global held a seminar at the KSE on July 25, 2003. It was attended by a number of brokers, traders, and other market professionals. The seminar covered information pertaining to the company’s operations, achievements, prospects, and growth potential. The company is scheduled to begin trading in the market on Monday, July 27, 2003.
KFSC was established in 2000 with a capital of 15 million Kuwaiti dinars ($50 million). The solid financial performance of KFSC was an outcome of the company’s management strategic marketing and positioning plans, favorable market conditions, and a growing consumer finance sector. The company’s core activities comprise of extending short and medium term financing, personal loans, corporate loans, leasing and management of third party loan portfolios.
In general, listing a company is recommended to achieve higher exposure of the company in the market, continuous transparency, increase investment opportunities for investors, diversify investments, obtain liquidity, and improve market breadth. — (menareport.com)
© 2003 Mena Report (www.menareport.com)
