Serrari Group

 Beyout Investment Group (BIG) Holding, a key player in Kuwait’s human resources and real estate sectors, has set the price range for its upcoming initial public offering (IPO) between 480 and 500 Kuwaiti fils per share. This IPO aims to raise up to 45 million Kuwaiti dinars ($146.53 million) and will mark the first new listing on the Kuwait Stock Exchange in nearly two years.

BIG Holding plans to offer 30% of its total share capital. The final offer price will be announced next Sunday, with shares expected to begin trading in June. This listing is anticipated to reinvigorate the Kuwaiti stock market, which has been relatively dormant in terms of new listings.

Regional IPO Activity

This IPO comes at a time of increased IPO activity across the Gulf region. Countries like Saudi Arabia and the UAE have been working to expand their capital markets and attract investments. Notable listings this year include Saudi Arabia’s Modern Mills and the UAE’s Spinneys. Despite these developments, the Middle East and North Africa (MENA) region saw a decline in IPO proceeds, totaling $1.2 billion in the first quarter of 2024, a 66% drop from the same period last year, according to consulting firm EY.

Significance for Kuwait’s Market

The introduction of BIG Holding to the Kuwaiti market is a significant step toward revitalizing its financial sector. This move aligns with Kuwait’s broader economic strategy to diversify its economy beyond oil and enhance its financial market’s appeal to both local and international investors.

Economic Reforms and Future Prospects

Gulf countries are strategically boosting their financial markets and private sector growth as part of broader economic reforms aimed at reducing reliance on oil revenues. BIG Holding’s IPO could set a precedent for more Kuwaiti companies to go public, contributing to a more dynamic market environment.

Looking Forward

The final offer price for BIG Holding’s shares will be closely watched by investors and market analysts. The IPO’s success could signal renewed confidence in the Kuwaiti stock market and potentially trigger more IPOs in the future, supporting Kuwait’s economic diversification efforts.

This upcoming IPO is a critical event for both BIG Holding and the broader Kuwaiti market. Its success could mark the beginning of a more vibrant phase for Kuwait’s economy, aligning with regional trends of market expansion and investment attraction.

photo source: Google

By: Montel Kamau

Serrari Financial Analyst

20th May, 2024

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