NIC concludes Beyout Investment Group Holding’s IPO successfully

Kuwait: The National Investments Company (NIC) is delighted to announce the resounding success of Beyout Investment Group Holding’s IPO and its subsequent listing on Boursa Kuwait’s Premier Market. The Capital Markets Authority and Boursa Kuwait have granted their approval to start trading Beyout’s shares as of June 11, 2024.

In a statement to the press, NIC outlined its exceptional role as the joint global coordinator and subscription manager for Beyout Investment Group Holding’s private placement process as well as the sole investment and listing advisor for the listing process. NIC’s expertise was instrumental in being the listing advisor and the exclusive financial advisor for the company’s listing on Boursa Kuwait’s Premier Market.

The private subscription for the secondary offering of 30 percent of the company’s currently issued shares was initiated from May 19 to June 2, 2024. The orders amount exceeded approximately more than 17x Oversubscription the offering value during the initial allocation period, with coverage of KD 771 million, a clear testament to NIC’s credibility and expertise.

NIC stated that the IPO targeted offering 90 million shares of the concerned company at 500 fils per share and a total value of more than KD 45 million for qualified investors.

Pivotal role

Fahad Al-Mukhaizim, Board Member and CEO said: “The company is proud to play a pivotal role in the private placement of Beyout Investment Group Holding and working on the necessary measures for the listing that was completed and within the target schedule in preparation for listing on Boursa Kuwait, which will be a great addition and will contribute to strengthening Kuwait’s position as a vital global center for capital markets.”

“We would like to thank Beyout Investment Group Holding for trusting NIC as Joint global coordinator and subscription manager. Beyout Investment is a leading company that manages various services, integrated human resources solutions, and real estate services, with a focus on facilities management and other commercial properties, as well as distinctive projects (BOT),” said Al-Mukhaizim.

Al-Mukhaizim stressed that the National Investments Company’s role as the global coordinator and subscription agent for leading entities in Kuwait, such as the listing of Boursa Kuwait and Ali Alghanim Sons Automotive Company on Premier Market, is in addition to the company’s track record in the investment field, which indicates the experience and professionalism of NIC and its ability to successfully and transparently manage many IPOs of this size, in addition to executing several acquisitions, listings and public and private offerings over the past decades.

Logistical and marketing arrangements

NIC has arranged for the logistical and marketing arrangements for the IPO process for the Beyout Investment Group Holding and has prepared an integrated team, which held multiple rounds of investment meetings with various interested parties from individuals, institutions, and major companies to explain the details of the IPO, as well as respond to all communications received from investors and those interested in the IPO process and answer all their inquiries.

Al-Mukhaizim praised all the efforts made by the Capital Markets Authority, Boursa Kuwait, and Kuwait Clearing Company and highlighted their quick and tangible interaction in facilitating both the subscription and listing process within the Premier Market from the beginning until now, which was done smoothly, successfully and with the cooperation of all parties, pointing out that these efforts have begun to bear fruit one after another, especially concerning encouraging the listing of companies with good financial solvency.

He also revealed that the IPO of Beyout Investment Group Holding has witnessed great interest and turnout from investors of various categories, individuals, companies, and prestigious local and international institutions, as the number of required shares exceeded the number of subscription shares offered, which reflects the great confidence in the quality and performance of the company, in addition to the high professionalism and professionalism with which NIC managed the IPO.

“When it comes to our clients, we are committed to providing a wide range of investment services and solutions to the highest standards to meet their unique strategic objectives and exceed their expectations, as our track record and multiple expertise allow the company’s sectors to lead and manage missions across the region successfully”, clarified Al-Mukhaizim.

To conclude, Fahad Al-Mukhaizim confirmed that the company’s success in managing the listing of Beyout Investment Group Holding, with all the related details, maintains the strength and solid position of the company as one of the leading investment entities on both local and regional levels, with experience spanning several decades in managing IPOs and listings, based on the capabilities of the company’s highly experienced and professional team.