National Investments Company (NIC), in its capacity as the partial purchase manager for Rawasi Kuwait Holding Company, has announced the successful completion of the partial acquisition of Rasiyat Holding Company.
This is the second time such a transaction has taken place in Kuwait in compliance with the provisions of Book Nine of the Executive Regulations of Law No. 7 of 2010 and the Capital Markets Authority their amendments.
Mr. Bashar Khan, Executive Vice President of the Investment Banking Sector at National Investments Company, expressed his delight, stating that, “We are thrilled that NIC has successfully fulfilled its role as the partial purchase manager for Rawasi Kuwait Holding. This transaction is a testament to NIC’s commitment to providing customized and innovative solutions for its clients.”
Mr. Khan further emphasized the collaborative efforts of the NIC team, working closely with key shareholders of Rasiyat to ensure a swift and seamless transaction.
“The Capital Markets Authority granted approval for the partial purchase offer document submitted by Rawasi Kuwait Holding to acquire 7 percent of the capital of Rasiyat Holding Company on August 29, 2023. NIC received CMA approval for the transfer of the achieved percentage of the offer (6.087 percent) to Rawasi ownership on November 16, 2023,” he added.
National Investments Company has a track record of successfully completing a diverse range of advisory deals, including capital increases for clients, mergers and acquisitions, private placements, and IPOs, with subsequent listings on Boursa Kuwait. The advisory team is currently engaged in several exciting transactions, showcasing our commitment to delivering services at international standards for our clients in Kuwait.
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