Mezzan Holding has filed an application with Kuwait’s Capital Markets Authority to list on the Kuwait Stock Exchange (KSE).

The company plans to list on the official bourse following a secondary offering of 88.95 million shares, representing 30 per cent of the company, led by Watani Investment Company (NBK Capital), said a statement.

The offering’s objective is to expand the company’s shareholder base, and will commence following the Capital Markets Authority (CMA)’s approval, it said.

Khalid Jassim Al Wazzan, chairman of Mezzan, said: “Today’s announcement marks a major milestone for the company and the Gulf’s private sector. Upon Mezzan’s successful listing on the KSE, investors will have a unique opportunity to invest in the Gulf’s growing food, beverage, and FMCG sectors. We look forward to the CMA’s approval and the listing of the company”.

Mezzan, with a legacy of 70 years, is a leading vertically-integrated manufacturer, distributor, and provider of food, beverage, and FMCG products and services in Kuwait, the UAE and Qatar, with a growing Middle East footprint.

It incorporates 29 subsidiaries, and is operationally structured into two primary business lines: food business line and non-food business line, which includes consumer and supplemental industrial products.

The group distributes over 25,000 stock keeping units (SKU), making it one of the largest operators in terms of SKUs, unit sales, market share, and in terms of share of revenues of total consumer spending in consumer categories served by Mezzan.

Mezzan’s food business line comprises food and beverage manufacturing and distribution, catering and services, while the non-food business line comprises two divisions - fast moving consumer goods (FMCG, household and pharmaceutical products) and industrial operations. - TradeArabia News Service