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KIA To Subscribe To Kuwait Airways Shares

Kuwait Airways is seeking to sell a $280 million stake to international carriers and investors.

Kuwait Airways is seeking to sell a $280 million stake to international carriers and investors, Financial Times reports. The country’s sovereign wealth fund, Kuwait Investment Authority, will subscribe to a fifth of the share capital with the balance expected to be offered to employees and investors in a future initial public offering.

The national airline will offer 35% of its share capital valued at $804 million. Citigroup, Seabury, an aviation consultancy, and Ernst & Young were appointed for advising the privatization committee.

Click here for the story from Financial Times.

Click here for additional coverage from Bloomberg.

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