(MENAFN) Bayut Investment Holding Group, a company offering real estate and human resources services, has announced its intention to offer 30 percent of its shares on the Kuwaiti Stock Exchange. The decision was revealed on Tuesday, indicating a significant move for the company in terms of capital market participation. The offering price will be finalized during the book-building period scheduled from May 19 to 23, with the commencement of share trading anticipated to take place on the Kuwaiti Stock Exchange next month.
In a statement issued by the group, it was highlighted that the listing represents a strategic step towards diversifying the shareholder base, improving corporate governance standards, and broadening the company's network and visibility among key stakeholders. Founded in 1991, Bayut Investment Holding Group has established itself as a provider of human resources solutions and a manager of various real estate projects, including build-operate-transfer and public-private partnership initiatives. Noteworthy clients served by the company include contractors for prominent entities such as the US Army, Kuwait Oil Company, and Kuwait National Petroleum Company.
The appointment of the National Investments Company and EFG Hermes UAE as joint coordinators for the offering underscores the significance of this endeavor. With their expertise and support, Bayut Investment Holding Group aims to navigate the complexities of the capital markets effectively, ensuring a successful listing process and maximizing shareholder value. This strategic move not only signifies the company's commitment to growth and expansion but also reflects its confidence in the prospects of the Kuwaiti Stock Exchange as a platform for enhancing market presence and attracting investment.
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