For over a century, Alghanim Industries has been a figure of innumerable achievements and continuous expansion in various sectors and geographical reach. In a letter addressed to his employees, Alghanim Industry Group’s Executive Chairman, Qutaiba Al-Ghanim, announced a consideration to offer a minority stake of its shares for public subscription in the first market of the Kuwait Stock Exchange.
In the letter, Al-Ghanim said the company is currently weighing on the decision to offer a minority stake in the Kutayba Al-Ghanim Group “Al-Ghanim Industries”, which he viewed as an essential part of the IPO investment. He added that attaining the expansion plan is backed by global experts’ opinion on IPO as one of the ideal practices for institutionalizing family business, in addition to its long-term sustainability.
He also addressed the significance of strengthening the governance process through IPO-related transparency regulations and introduction of new shareholders with diverse backgrounds, emphasizing that this action shall encourage local investors to work side by side with regional and global investors to partake in the growth of the company.
“Today, we are on the threshold of a new stage in the development of the capital markets in our region, which has become the focus of attention for investors all over the world. In light of all of the above, we decided to proceed with the study of this topic, in our belief that it will enhance the development and continuation of our business in a sustainable manner,” Al-Ghanim said.
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