VOL. XXXIX

No. 12

18-December-1995

KUWAIT

Kuwait's IPG Goes Public And Raises $18Mn

MEES learns that the private Kuwaiti oil company the Independent Petroleum Group (IPG) has raised KD5.625mn ($18.75mn) by means of an issue of 25mn of new ordinary shares. The placement means that IPG has increased its share capital by to KD7.5mn, and the price of KD0.225mn a share gives IPG a putative value of KD16.875mn ($56.25mn). The subscription, which took place on 15 November, was underwritten by...