Jassim Transport & Stevedoring Co, a ports and logistics services firm, said on Saturday it had initiated a private placement last month to increase its shareholder base before a listing on the Kuwait bourse.
“Following the preliminary regulatory approval from the Capital Markets Authority, the JTC commenced the private placement mid-June,” it said in a statement.
CEO Adel Kohari said the placement was a step towards a listing on Boursa Kuwait.
The statement did not provide details of how much JTC planned to raise in the private placement.
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