Kuwait’s Stock Exchange IPO Will Be Oversubscribed, CEO Says - Bloomberg:
The Kuwait stock exchange’s initial public offering is progressing well and will close next month oversubscribed, the bourse’s chief executive officer said.
“I’m 100% sure it will be covered many times,” Mohammad Al Osaimi, the CEO of Boursa Kuwait, said in an interview with Bloomberg Television in Dubai.
The sale of half the exchange to local citizens began last month and will end Dec. 1, with the offering price set at 100 fils per share, or one-tenth of a dinar. The IPO follows a 44% sale earlier this year to a consortium of domestic and international investors.
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