Kuwait Projects Company (Kipco), the country's largest listed investment company, said on Monday it planned to start the process for an initial public offer (IPO) of shares by its pay-television unit OSN within weeks.

Deputy chairman Faisal al-Ayyar said he hoped the bourse listing would be completed by the end of this year, and that he was looking at London as a primary listing for the firm.

"We start the process within a few weeks," Ayyar told reporters on the sidelines of Kipco's annual general meeting. "All things are tilted towards London, but not as GDR (global depositary receipt), as a primary listing," he said.

The OSN network operates in the Middle East and North Africa.-Reuters