16/04/2015 09:12 AST
Mezzan Holding KSCC, one of the largest manufacturers and distributors of food, beverage, FMCG, and pharmaceutical products in the Gulf, held a business briefing session on Wednesday in preparation for a listing on the Kuwait Stock Exchange (KSE) expected in the second quarter of 2015.
The private session was hosted by Mezzan Holding’s Board of Directors and was attended by interested stakeholders and analysts including investment companies, wealth managers, fund managers, and sovereign wealth funds managers. On March 26, 2015 the company received preliminary approval from the Kuwait Capital Markets Authority to list the company on the KSE pending successful completion of a private secondary placement of 30% of its shares.
Mezzan Holding Vice Chairman, Mohammed Jassim Al Wazzan, said: “The Board has been working towards this day since 2011 when we first took active steps to evolve Mezzan Holding into a public company in a structured, phased, and sustainable approach. Today’s meeting with stakeholders from Kuwait and the Gulf brings us one step closer to realizing this goal of turning Mezzan Holding from a family institution into a public institution that champions and reflects the strength, legacy, and robustness of Kuwait’s private sector.
Al Wazzan said “we are a company with products that are found in every single home in Kuwait, and as much as that is a sign of success, it also a sign of commitment, loyalty and privilege that we share with our customers. This success also makes us responsible for our greater impact on the community and the economy. Today we are in the final preparations for our inevitable listing on the Kuwait Stock Exchange, planned to take place within this quarter following the successful closing of our secondary offering. Once listed, Mezzan Holding would have achieved its long-term goal to be a company that is owned by the community it serves.”
The company distributes over 25,000 Stock Keeping Units (SKU), making it a market leader in terms of SKUs, unit sales, market share, and in terms of share of revenues of total consumer spending in consumer categories served by Mezzan Holding.
Mezzan Holding appointed Watani Investment Company KSCC (NBK Capital) as a lead manager to manage the subscription and to allocate the shares after closing the subscription in consultation with the selling shareholders and the company.
Mezzan Holding represents a unique investment opportunity in one of the largest consumer-driven businesses in one of the most defensive, protected and private sectors.
Mezzan Holding operates 29 subsidiaries and is operationally structured into two primary business lines: the Food Business Line and the Non-Food Business Line. With both business lines combined, the company is manufactures and distributes over 358 leading consumer brands, including consumer favorites such as Kitco chips and snacks, Country Rice, Khazan meat products, Al Wazzan Rice and, Al Wazzan Canned Tuna, Aqua Gulf, Pillsbury, Green Giant, Sara Lee, Betty Crocker, Tabasco. The company is also the exclusive distributor of Starbucks chilled products, Johnson & Johnson, Dettol cleaning products, Kleenex, Listerine, Pif Paf, Huggies, Clearasil, Neutrogena, Zyrtec, Tylenol, Olfen, Misporin, Gaviscon, and hundreds of other products in Kuwait as well as Red Bull in the UAE.
Saudi Gazette
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