Tarek Yehya
Tarek Yehya
Partner
Samar Jrade
Samar Jrade
Senior Associate

Kuwait June 11, 2024 – Meysan advised Beyout Investment Group Holding (“BIG”), a family business group managing integrated services portfolios, on the successful offering of 90,000,000 ordinary shares, representing 30% of BIG issued share capital and its listing on the Premier Market of the Kuwait Stock Exchange. This landmark transaction marks the first listing on Boursa Kuwait since 2022 and one of the few Kuwaiti listing transactions in the last decade. 

The private offering to qualified investors attracted high demand from both international and regional investors and was oversubscribed approximately by 17 times with a total demand of more than 767 million KWD (USD 2.5Bln). 

The celebratory bell-ring ceremony took place at the Kuwait Stock Exchange, announcing the official listing and commencement of trading of BIG’s shares on Boursa Kuwait, and marking a historic moment for BIG and the Kuwait Capital Market landscape in general. 

The transaction marks the first private offering of shares using the book building process to determine the final offer price since the introduction of the book building mechanism under the Capital Markets Authority’s (CMA) regulations in 2022. The transaction implicated multiple legal challenges including the structuring of the offering to attract investors while ensuring strict adherence to all regulatory requirements, and the timely execution of the transaction based on the market conditions.

Meysan assisted BIG throughout the entire process and work streams by conducting all necessary diligence on the offering and listing requirements. Meysan’s role also encompassed structuring the offering including the book building and subscription process, and the pricing and allocation mechanisms in compliance with regulatory frameworks and securing approvals from CMA and Boursa Kuwait.  Meysan worked closely with National Investments Company K.S.C.P.  (NIC) acting as listing advisor and subscription agent and with EFG-Hermes UAE Limited as the Joint Global Coordinators and Bookrunners, to ensure smooth and timely execution of the transaction.

Partner at Meysan, Tarek Yehya said “We congratulate Al-Khannah family for achieving this milestone. We are proud at Meysan to be working closely with leading family businesses in Kuwait and helping them to achieve their crucial objectives. We understand the challenges that families face in maintaining their legacy and we support them in implementing their strategy. We are confident that this successful listing, will further encourage other family businesses to access the benefits of the capital markets.” 

In his comment, Dr. Abdulwahab Sadeq said: “We are delighted to announce our role in assisting BIG in its successful listing on Boursa Kuwait. By going public, family-owned companies can ensure smoother generational transitions and secure their long-term continuity. Our firm has extensive experience in navigating the complexities of capital markets, and we are committed to contribute to the sustainable growth and future prosperity of family enterprises in the region. Our firm is currently working with other family businesses to take similar steps towards going public, further reinforcing our dedication to fostering economic resilience and growth in Kuwait”. 

The transaction team was led by Partner Tarek Yehya along with Partner Dr. Abdulwahab Sadeq, Senior Associate Samar Jrade, and Associate Nour Mashmoushi.

MEYSAN ADVISES WARBA BANK ON SUKUK ISSUANCE
MEYSAN ADVISES WARBA BANK ON SUKUK ISSUANCE

We are delighted to announce Meysan’s role as Kuwait law counsel to Warba Bank K.S.C.P., as obligor, in updating the $2 billion Trust Certificate Programme of Warba Sukuk Limited to incorporate a Sustainable Sukuk Issuance Framework and its first issuance of Sustainable Trust Certificates of $500 million (5.351%). This groundbreaking issuance marks the first-ever… Read more

Once again, Meysan international disputes team secures closure of investigation by regional competition regulator
Once again, Meysan international dispute...

This success will ensure the uninterrupted French language broadcast of CAF tournaments on Pay-TV platforms in 13 sub-Saharan jurisdictions until 2028.  The investigation, which commenced in 2017, concluded with the COMESA Competition Commission’s recommendation that the exclusive broadcasting agreement between CAF and Canal+ be terminated at the end of 2024,… Read more

MEYSAN ADVISES BEYOUT INVESTMENT GROUP HOLDING ON SUCCESSFUL OFFERING AND LISTING ON KUWAIT STOCK EXCHANGE
MEYSAN ADVISES BEYOUT INVESTMENT GROUP H...

Kuwait June 11, 2024 - Meysan advised Beyout Investment Group Holding (“BIG”), a family business group managing integrated services portfolios, on the successful offering of 90,000,000 ordinary shares, representing 30% of BIG issued share capital and its listing on the Premier Market of the Kuwait Stock Exchange. This landmark transaction… Read more

MEYSAN ADVISES AGILITY ON LANDMARK USD 4.5 BILLION ABU DHABI SECURITIES EXCHANGE DEBUT
MEYSAN ADVISES AGILITY ON LANDMARK USD 4...

Abu Dhabi — A team of lawyers from international law firm Meysan recently acted as legal advisor to Agility Public Warehousing Company KSCP (“Agility”) on the successful direct listing on the main market of the Abu Dhabi Securities Exchange (ADX) of shares in subsidiary, Agility Global PLC (“Agility Global”).  Agility Global is a… Read more

Meysan provides advisory services to ALLUB Industrial Company in the acquisition of 100% stake of Al Aber Global Industrial Company
Meysan provides advisory services to ALL...

Meysan Partners’ Riyadh office provided advisory services to ALLUB Industrial Company, a subsidiary of a large Kuwait based group (“Allub”), regarding the acquisition of 100% stake of Al Aber Global Industrial Company, a leading group operating in transformative industries and construction services in Saudi Arabia. The planned acquisition was executed… Read more

Meysan Dismisses Claims Over $100 Million Against Global Automotive Company.
Meysan Dismisses Claims Over $100 Millio...

The Meysan team has secured another monumental legal victory. Spearheaded by Dr. Abdulwahab Sadeq and Senior Counsel Tarek Diab, the team represented a global automotive company and a local dealer in a legal dispute with their former local agent, who demanded various compensations amounting to approximately one hundred million US dollars. Despite the… Read more