KCIC to list in Kuwait and open China office

Kuwait China Investment Company (KCIC), which is engaged in providing advisory and asset management services to investors, is listing its shares on Kuwait Stock Exchange this month and waiting final date to kick start trading in the stock.

The company has decided to open its first overseas office in Shanghai in next six months.

"Kuwait China Investment Company will be listing on Kuwait Stock Exchange this month and we are awaiting final date. We continue to raise funds to support our business activity," Ahmad A Al Hamad, Managing Director, told Emirates Business.

It's been long time since its IPO as the company has been waiting for right time to list its shares. KCIC raised KWD80 million (Dh1 billion) through share sale to public in September 2005.

"We were not in favour of listing shares immediately after establishment, though being a company established by an decree the regulations do allow us to list immediately after establishment.

"Instead, we opted to operate for a few years before listing in order to build a track record that validates and reinforces our strategy on ground and in real time. We will soon get listed with a strong performance as we had initially planned, and that makes all the difference for investors," he said.

Kuwait Stock Exchange Committee and KCIC will decide on the final listing day and is expected to be announced any moment. Medium-term investments are significantly attractive in the region. The company's share capital is $350m (Dh1.2bn), assets under management at $450m and a shareholder base of 100,000. The company also has a research and development centre in Kuwait.

"We invest in real estate, infrastructure, agriculture and other emerging sectors in Asian countries.

"We have invested 60 per cent in China, 20-25 per cent in India and remaining in other Asian countries," Al Hamad said.

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