Kuwait City, Kuwait, 21 November 2024 – National Investments Company (NIC), a leading investment bank in Kuwait, today announced the successful sale of a 3.2% stake in Boursa Kuwait, amounting to approximately $43 million. The sale, executed through an Accelerated Book Build with EFG Hermes, involved 6.5 million shares and is part of NIC’s strategic exit. Following the transaction, NIC retains a 12.5% strategic stake in Boursa Kuwait, demonstrating continued confidence in its growth prospects.
Khaled Al Falah, Chairman of NIC, commented: “This divestment reflects our dynamic investment strategy and disciplined risk management. We remain optimistic about Boursa Kuwait’s future and its growth potential. The proceeds from this sale enhance our financial position and prepare us for strategic investments, particularly as we expand into Saudi Arabia and the UAE.” Al Falah added, “By welcoming prominent international hedge funds and institutional investors into Boursa Kuwait’s shareholder base, we are boosting the exchange’s global standing and promoting a more diversified investment community.”
NIC played a key role in Boursa Kuwait’s transformation, having led a consortium in 2019 to acquire a 44% stake in the exchange for around $62 million. Since then, Boursa Kuwait has undergone significant restructuring, resulting in increased trading volumes and improved margins, solidifying its position as a key regional financial hub.
Al Falah also thanked the Capital Markets Authority for fostering a supportive regulatory environment and commended the Boursa Kuwait management for the smooth execution of the transaction.
