• NIC acquired the stake in 2019, as the lead in a consortium, and retains a c.12.5% strategic stake, in Boursa Kuwait.
  • The partial exit broadens Boursa’s shareholder base across several renowned international hedge funds and institutional investors.

Kuwait City, Kuwait: National Investments Company, Kuwait’s market leading investment bank, today announces the successful divestment of a 3.2% stake in Boursa Kuwait, the national stock exchange operator. The sale amounts to $43 million and was executed through an Accelerated Book Build in collaboration with EFG Hermes. Following the transaction, NIC retains a significant 12.5% shareholding in Boursa Kuwait, reaffirming its confidence in the exchange’s robust business model and promising growth trajectory.

Khaled Al Falah, Chairman of the Board of Directors of NIC, commented: “This divestment is a testament to our dynamic investment strategy and disciplined risk management approach. We are immensely optimistic about Boursa Kuwait’s evolution and prospects, guided by its management team. The proceeds from this transaction strengthens our financial position and prepares us for strategic investment opportunities, particularly as we accelerate our regional expansion into the Kingdom of Saudi Arabia and the United Arab Emirates.”  Al Falah added: “By selectively introducing renowned international hedge funds and institutional investors into Boursa Kuwait’s shareholder base, we are enhancing the exchange’s global profile and fostering a more diversified investor community.”

NIC has been instrumental in Boursa Kuwait’s transformation journey.  The Capital Markets Authority initiated the privatization of Boursa Kuwait in early 2019, with NIC leading a prominent investment consortium. This consortium, comprised of leading local companies and the Athens Stock Exchange, successfully acquired a 44% stake of Boursa Kuwait for approximately $62 million.

Since the acquisition, Boursa Kuwait has undergone significant restructuring and development initiatives, resulting in heightened trading volumes and enhanced operating margins. These efforts have solidified its status as a key financial hub in the region.

Al Falah expressed deep appreciation for the Capital Markets Authority‘s role in cultivating a secure and progressive regulatory environment conducive to the growth of Kuwait’s capital markets. He also lauded the management of Boursa Kuwait in ensuring the seamless execution of the transaction.

About National Investment Company

Established in 1987, National Investments Company is one of the leading investment firms in Kuwait and the region, managing assets exceeding $3.4 billion. Renowned for its innovative financial solutions, NIC has orchestrated multiple high-profile Initial Public Offerings, advised on Kuwait’s largest Mergers and Acquisitions, and facilitated the country’s inaugural issuance of preferred shares.