September 11, 2017 / 10:24 AM / 10 months ago

Kuwait says stock market offering for first PPP project in Q1 2018

KUWAIT, Sept 11 (Reuters) - Kuwait said on Monday that it is expected to offer shares of its first public-private partnership project to investors on the Kuwait stock exchange in the first quarter of 2018.

The Kuwait Authority for Partnership Projects (KAPP) said it had appointed an NBK Capital-led consortium as the advisor and offering manager for the distribution and transfer of shares in Shamal Azzour Al-Oula, which are currently held by KAPP, to Kuwaiti citizens.

Shamal Azzour Al-Oula is the owner and operator of Kuwait’s first and only independent power and water plant. (Reporting by Ahmed Hagagy and Tom Arnold; Editing by Saeed Azhar)

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