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KCIC receives final approval to list shares on Kuwait Stock Exchange

Kuwait: Wednesday, October 14 - 2009 @ 14:36

The Kuwait Stock Exchange Market Committee and KCIC will agree on the final listing day in two weeks, during this time individuals who are shareholders may merge their shares with the shares of their children and spouses.

KCIC was established in 2005 with a capital of $278m, half of which were raised by a private placement while the other half was raised by 23 founding shareholders, such as, the Kuwait Investment Authority – the Sovereign Wealth Fund of Kuwait, National Investment Company – one of the leading investment banks in the Middle East, and Al Ghanim Industries – one of the largest conglomerates in the Middle East.

Based in Kuwait, KCIC invests in domestic demand driven sectors in Asia, namely energy, real estate, agriculture, infrastructure, and financial services.

KCIC Managing Director Ahmad Al Hamad, said:

“With the global rebalancing well underway, we see Asia as a direct beneficiary when its domestic demand begins to mature. KCIC is well positioned to invest in sectors which will reward investors with attractive investment returns.”

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Wednesday, October 14- 2009 @ 14:36 UAE local time (GMT+4) Replication or redistribution in whole or in part is expressly prohibited without the prior written consent of Mediaquest FZ LLC.

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