Offering Ipo: Partnership and Kuwait

offering ipo: Photo Xinhua Kuwait will launch the initial public offering IPO of 50 percent equity stake on a Public-Private Partnership PPP project, the Kuwait Authority for Partnership Projects KAPP said on Sunday, according to Global Times China. Mutlaq Al-Sanei, general manager of KAPP, said at a press conference that Shamal Azzour Al-Oula is the first company to be established as a Public-Private Partnership project and the first PPP to be offered for public subscription. Kuwait will launch the initial public offering IPO of 50 percent equity stake on a Public-Private Partnership PPP project, the Kuwait Authority for Partnership Projects KAPP said on Sunday. The public subscription period will open for 60 days, starting from October 1, 2019 to November 29, 2019, he noted. The remaining 50 percent will continue to be owned by current shareholders, he added. Once the transaction concludes, and depending on the final level of demand, up to 50 percent of Shamal Azzour Al-Oula's shares will be owned by Kuwaiti citizens, he said. (news.financializer.com). As reported in the news.