Beyout Investment Group commences trading on Boursa Kuwait

17 June 2024 2 min. read

Beyout Investment Group has successfully listed on Boursa Kuwait, marking the first listing on the exchange in over two years.

Established in 2006, Beyout Investment Group is the investment company behind subsidiaries Kuwait Resources House (a provider of human resources solutions and life support services) and Real Estate House (a manager of residential and commercial properties and expert in build-operate-transfer contracts).

The growing and diversified business model of Beyout Investment Group garnered major interest from investors during its roadshow, with its IPO oversubscribed 17 times.

Beyout Investment Group ommences trading on Boursa Kuwait

Beyout Investment Group goes public

The IPO saw Beyout Investment Group list 30% of its issued share capital, raising gross proceeds of approximately 45 million KWD (circa $147 million).

Commenting on the milestone, Abdulrahman Al Khannah, CEO of Beyout Investment Group, said: “This is a proud and historic moment for Beyout Investment Group and its subsidiaries, as the company begins a new chapter as a listed business.

“I would like to personally thank our employees for their hard work and dedication, our clients for their long-standing trust, and our many advisors who have supported us along the way to get us to this landmark moment. Naturally, I would also like to thank our new shareholders for their trust in our business and vision. Let us unleash the company’s potential, together.”

Looking ahead, the CEO said: “We now look ahead and will focus on driving our growth strategy, with continued emphasis on growing the core business and expanding and diversifying its service offering across the GCC. Over the coming years, we look to identify more opportunities for synergies and alignment between Beyout Investment Group and our subsidiaries – to maximise opportunities and create shareholder value.”

IPO advisors

The initial public offering was advised on by several investment bankers and consultants, namely National Investments Company and EFG-Hermes (joint global voordinators and joint bookrunners), National Investments Company (investment and listing advisor), Meysan Partners (legal advisory), and Kekst CNC (financial communications).

For Kekst CNC, which has a 30-person team in the Middle East, the IPO continues a run of successful transaction mandates, including previous advisory roles during the IPOs of OQGN and Investcorp Capital. The Beyout Investment Group engagement was led by Nahed Ashour and Gregor Riemann.