RIYADH: Kuwaiti automotive business Ali Alghanim has set its initial public offering price as it plans to list on Boursa Kuwait in May.
The offer price will be 790 fils ($2.60) per share, Al Arabiya reported citing unnamed sources.
A week earlier, the family-owned company submitted a filing to float a 45-percent stake on Kuwait’s stock exchange in its first share sale by a family business in seven years, according to Bloomberg.
The listing comes amid a push for more listings in Kuwait and other Gulf countries to keep up with the fast-paced IPO market in Saudi Arabia.
