Al-Marzouq and Al-Azmi after signing the agreement.

KUWAIT: KFH Capital Co, the investment arm of Kuwait Finance House Group (KFH), signed an advisory agreement with Petrochemical Industries Company, to act as an advisor and manager for the sale transaction of Qurain Petrochemical Industries Company shares. The deal covers 10 percent of the capital of the company which is listed in Bourse Kuwait (Premier Market), amounting to 110 million shares. The deal is considered one of the major and most significant shares selling deals witnessed in Bourse Kuwait recently.

KFH Capital CEO, Abdulaziz Nasser Al-Marzouq said in a press release after the signing ceremony of the agreement that "Despite the fact that KFH has led the arrangement of several sale transactions for several companies in local and GCC markets, this deal is special as it represents the beginning of cooperation with a government-owned oil company working in the field of petrochemicals. This deal opens the door for interested investors e.g., companies, funds, and individuals inside and outside Kuwait, to invest in a company listed in the premier market, which is the highest rated market in Bourse Kuwait, which attracts elite companies with high liquidity and remarkable market value".

KFH Capital offering of new investment opportunities contributes to the motivation and enhancement of economy, development of market mechanisms and guiding investors abilities to invest their funds in productive projects and companies with remarkable returns and highly valuable shares.

Al-Marzouq added: "KFH Capital enjoys long experience in managing and arranging such deals. After investing in sufficient preparations and abilities to achieve targeted results, we expect high demand on the offered shares considering the favorable environment which Bourse Kuwait is witnessing, as well as an increase in purchase transactions and in the value of several private leading shares in various market sectors".

He noted that consecutive announcements will be made on the sale transactions executive procedures and steps regarding to the timing, rules and regulations as determined by CMA and other concerned bodies. He added that all stages were based on thorough studies taking into consideration the market variants and the fact that this deal represents an added value for the stock market and a high-quality opportunity for investors. He expressed his wish to see more of these new deals in the future considering the sound and positive developments witnessed in the market and the state of optimism concerning national economy.

For his part, Mutlaq Rashed Al-Azmi, CEO - Petrochemical Industries Co, Mutlaq Rashed Al-Azmi said that the company trusts in KFH Capital's ability to achieve the best management and marketing standards for the deal and utilize all its capabilities to conclude this deal and make it a success in a record time. He emphasized that Qurain Company has achieved remarkable success since bring listed in Kuwait Stock Exchange. The company incorporates several companies working in various fields, thus achieving remarkable financial performance and cashflows from various sources, enhancing profitability and mitigating operational risks by diversifying its sources of income.