Mubasher: Agility Public Warehousing, dual-listed on Boursa Kuwait and the Dubai Financial Market (DFM), confirmed the reports indicating the listing of subsidiary companies on international equity markets.
Agility considers some options to maximise return for its shareholders and improve liquidity including the share sale of some of its subsidiaries on global stock markets, the company said in a statement to Boursa Kuwiat on Tuesday.
Agility’s Tristar appointed Moelis & Co. to lead-manage its initial public offering (IPO) on the London Stock Exchange (LSE) in 2019, according to social media reports.
The capital value of Agility’s subsidiary will be boosted to $1 billion after the IPO, some tweets added.
Tristar, the Dubai-based provider of logistics for the petroleum and chemicals industries, said it intended to offer its shares during 2019, Bloomberg News previously reported.
In November 2017, Tristar sold a 20% stake to Kuwait-based Gulf Investment Corporation (GIC) by issuing $100 million worth of fresh shares to GIC.
