Kuwait Finance and Investment Co. (KFIC) today announced it is now accepting the shareholders of First Dubai for Real Estate Development Co. and Waterfront Real Estate Development Co. who are interested in Al Mazaya Holding (Mazaya)’s rights issue, a funding step in Mazaya’s full acquisition of the two companies.
KFIC was selected by Mazaya as the transaction manager for the acquisition of First Dubai, Waterfront and the execution of the rights issue that will fund the Mazaya acquisition.
The transaction will be executed in two stages, starting with the selling of First Dubai and Waterfront shares held by interested minority shareholders to Mazaya and then allocating new Mazaya shares to the selling shareholders, essentially facilitating a stock swap and a rights issue. KFIC will provide dedicated client relationship teams to interface with the interested First Dubai and Waterfront shareholders as well as facilitate the transaction on their behalf.
The transaction, commonly referred to as a stock swap is a resource intensive service that KFIC has repeatedly provided with success to corporations in the Gulf.
KFIC’s Chief Executive Officer, Ms. Sana Jumah, said “Stock swaps are resource intensive operations and a service that KFIC has repeatedly provided with success to corporations in the Gulf. We are glad to be working with Mazaya on this transaction”.
Interested parties may call or visit KFIC offices in Kuwait City.
Al Mazaya Holding Co. (K.S.C.) Holding provides comprehensive kinds of real estate products and services in several fields. Amongst them are housing projects, residential buildings and commercial projects such as office and retail buildings.
Established in 2000, KFIC is a Kuwait-based financial services firm with a diversified business offering that includes investment banking, asset management, advisory and corporate finance products and services.
