Wednesday, November 13, 2019
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Kipco says to start pay-TV unit’s IPO process in weeks

Kuwait: Kuwait Projects Co (Kipco), the Gulf state’s largest listed investment company, said on Monday it planned to start the process for an initial public offer of shares by its pay-television unit OSN within weeks.

Deputy chairman Faisal Al Ayyar said he hoped the bourse listing would be completed by the end of this year, and that he was looking at London as a primary listing for the firm.

“We start the process within a few weeks,” Ayyar told reporters on the sidelines of Kipco’s annual general meeting.

“All things are tilted towards London, but not as GDR (global depositary receipt), as a primary listing,” he said.

The OSN network operates in the Middle East and North Africa.