Kuwait-based Mezzan Holding, a top manufacturer and distributor of food, beverage, FMCG, and pharmaceutical products in the Gulf, has started the private placement of a secondary offering of up to 88.95 million shares.

Kuwait-based Mezzan Holding, a top manufacturer and distributor of food, beverage, FMCG, and pharmaceutical products in the Gulf, has started the private placement of a secondary offering of up to 88.95 million shares, or 30 per cent of the company,

The offering is in preparation for a listing on the Kuwait Stock Exchange (KSE) expected in the second quarter of 2015, a statement said.
 
The company distributes over 25,000 Stock Keeping Units (SKU), making it a market leader 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 Holding.

Mezzan Holding appointed Watani Investment Company (NBK Capital) as a lead manager to manage the subscription and to allocate the shares after closing the subscription in consultation with the selling shareholders and the company.    

The offering’s objective is to expand the company’s shareholder base. Upon successful completion of the offering, Mezzan will proceed with the remaining regulatory procedures to listing on the KSE expected in the second quarter of 2015, as part of a corporate strategy to evolve Mezzan Holding from a family-held institution to a public trade company.

Mezzan Holding represents a unique investment opportunity in one of the largest consumer-driven businesses in one of the most defensive, protected and private sectors, the statement said. – TradeArabia News Service