Meysan has advised Beyout Investment Group Holding (BIG Holding) on the completion of its initial public offering (IPO) on the premier market of the Kuwait Stock Exchange, marking the first listing on Boursa Kuwait since 2022 and one of the few in the last decade.
BIG Holding, a family business, largely split between human resources and real estate services, offered 90 million ordinary shares, representing 30% of its total share capital through the IPO.
The listing attracted high demand from both regional and international investors and was oversubscribed approximately by 17 times with a total demand of more than 767 million KWD (US$2.5 billion), according to a statement from the firm. The final offer price was set at 500 fils per share.
The transaction marks the first private offering of shares using the book building process to determine the final offer price since the introduction of the mechanism under the Capital Markets Authority’s (CMA) regulations in 2022.
The Meysan team was led by partner Tarek Yehya along with partner Dr Abdulwahab Sadeq.
Yehya said: “We are proud at Meysan to be working closely with leading family businesses in Kuwait and helping them to achieve their crucial objectives. We are confident that this successful listing will further encourage other family businesses to access the benefits of the capital markets.”
Sadeq added: “By going public, family-owned companies can ensure smoother generational transitions and secure their long-term continuity. Our firm is currently working with other family businesses to take similar steps towards going public, further reinforcing our dedication to fostering economic resilience and growth in Kuwait.”
National Investments Company and EFG Hermes UAE acted as joint bookrunners and joint global coordinators on the deal.
The transaction, completed on Tuesday, brings the total count of companies listed on the exchange to 146, with 34 in the premier market alone, according to a statement from Boursa Kuwait. Ali AlGhanim Sons Automotive Company listed on the exchange on June 7, 2022, with Meysan serving as sole transaction counsel.
Boursa Kuwait has been a key driver in the development of the Kuwaiti capital market and the diversification of the national economy, in line with the goals of the New Kuwait Vision 2035. The development plan aims to transform Kuwait into a financial and trade hub regionally and internationally, and become more attractive to investors.
In May, Meysan, together with White & Case, advised the subsidiary of Agility, a publicly listed company in Dubai and Kuwait, on its US$4.5 billion listing on the Abu Dhabi Securities Exchange (ADX).
