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Mezzan Holding to debut on Kuwaiti bourse 11 June

Mezzan Holding to debut on Kuwaiti bourse 11 June
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MEZZAN
MEZZAN
1.86% 658.00 12.00

Kuwait – Mubasher: Mezzan Holding announced Wednesday that its shares will be listed on the Kuwait Stock Exchange (KSE), under the consumer staples sector, on 11 June.

Mezzan is one of the largest manufacturers and distributors of food, beverage, FMCG, and pharmaceutical products in the GCC region.

In early April, the company received an initial approval from the Capital Markets Authority to list on KSE after completing a private placement in which the company will offer 88.95 million shares, or 30% of capital.

Mezzan chairman, Khalid Jassim Al Wazzan said the listing move will enhance the company’s position in the local market.

“Mezzan Holding’s success is an unwavering testament to strength and depth of Kuwait’s private sector,” the top official added.

The company appointed NBK Capital as an exclusive financial advisor and lead manager for the secondary offering of 30% of the company that was successfully concluded on 12 May.

The placement was oversubscribed by two times.