Saturday, 06 September 2008 |
updated 1 minute ago
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Global seeks $500mn in LSE listing

by Amy Glass on Tuesday, 17 June 2008

LSE LISTING: Kuwait's Global Investment House has said its investment subsidary plans to raise up to $500 million by selling shares in an initial public offering. (Getty Images)

Kuwait's Global Investment House said on Tuesday its investment subsidary planned to raise up to $500 million by selling shares in an initial public offering.

Global MENA Financial Assets Ltd was seeking to list the shares on the London Stock Exchange by July 18, the firm said in a statement.

Shares would be sold to institutional and professional investors in certain jurisdictions including Gulf Co-Operation Council states, the statement said.

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After the listing, Global MENA would acquire from Global Investment House a portfolio of eight private equity investments in financial institutions predominantly in the Middle East and North Africa region, Global said.

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