Kuwait based Integrated Holding Company (IHC) and NBK Capital, announced the closing of the private placement of 35 per cent of the company’s capital, with over-subscription exceeding 230 per cent.
The private placement of around 76 million shares of Integrated Holding Company was undertaken at a price of 730 fils per share and raised more than KWD 130 million, reported Arab Times.
The number of investors in the private placement exceeded 1,000, making the company eligible to list on Boursa Kuwait’s premier market. The listing of the company will provide an opportunity for investors to participate in one of the most promising sectors locally and globally.
“NBK Capital is proud to have offered its investment banking advisory services to Integrated Holding Company to execute this offering, which represents a landmark transaction that will pave the way for upcoming issuances by Kuwaiti family businesses,” said, Faisal Al-Hamad, CEO of NBK Capital.
Integrated Holding Company was in 2005 and has a paid-up capital of KWD 22 million. It is a Shari'ah Compliant Company engaged in the operational equipment rental of cranes and heavy equipment for the oil, gas, power and infrastructure sectors.