Kuwaiti independent mulls IPO

Multinational

KUWAIT CITY, March 2, 2017 – Kuwait Energy is preparing for a listing on the London Stock Exchange, sources familiar with the initial public offering (IPO) said on Thursday.

The Kuwaiti independent, with operations in Iraq, Yemen, Oman and Egypt, could be valued at close to USD 1 billion, people told Bloomberg on the condition of anonymity. The company has reportedly hired Bank of America to assist it in the process.

Kuwait Energy produced some 26,000 boepd during the fourth quarter of 2016, mainly from its assets in Egypt and Iraq.

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