DUBAI - Saudi Arabia's Jadwa Investment has acquired a 35% equity stake in Kuwait's Gissah Perfumes Company, which is slated for a listing in Riyadh, the companies said in a joint statement on Wednesday.

Jadwa, one of the country's largest privately-owned investment banks, bought the stake through its private equity arm's Jadwa Retail Opportunities Fund, the statement said.

The companies did not provide a timeline for Gissah's planned listing and they did not disclose the value of the investment.

The deal will help Gissah prepare the company for a public listing on the Tadawul, Saudi Arabia's stock market, Gissah Chairman Faisal Al-Shayji was quoted as saying.

The companies did not provide a timeline for Gissah's listing on the Riyadh bourse.

Gissah, established in 2018, has 80 stores in 25 cities across Saudi Arabia, Kuwait, the United Arab Emirates and Bahrain.

(Reporting by Hadeel Al Sayegh; Editing by Sharon Singleton)