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Kuwait's Markaz launches IPO

Kuwait Financial Centre 'Markaz', a leading investment banking and asset management companies, has launched its new investment portfolio programme, which is to invest in IPO and pre-IPO issues globally.

The programme seeks to achieve capital appreciation over the medium to long term by participating in IPOs and pre- IPOs predominantly focused on emerging markets, particularly Asia and the GCC/ Mena regions, said an official spokesman.

The programme will strive to achieve superior risk-adjusted returns, such that an IRR exceeding 15 per cent is expected to be achieved over the life of the programme.

'Markaz IPO and Pre-IPO programme is a product that invests globally. The programme is not restricted to any region or sector. We will provide a dedicated team of analysts including sector specialists in order to examine the financial strength and potential of the corporations seeking IPOs. With our impressive track record in management of funds locally and internationally, investors will welcome this investment portfolio programme,' said executive vice-president of International Investments' Gopal Menon.

Investments would be made after a thorough due diligence of the available opportunity based on fundamental analysis. The team will also look at the prevailing macroeconomic environment in terms of economic growth, reform initiatives, capital market regulation, and political stability.

Investment into any specific IPO / pre-IPO or other instruments will be at the discretion of the investment advisor.

'Corporations in these emerging economies have higher earnings growth and RoE compared to most developed markets. Unlike in the past, corporate governance is rapidly improving, and the capital markets in most leading emerging markets are characterised by ample liquidity due to capital inflows (Asian economies) and Oil (GCC),' said associate vice-president of International Investments Barrak Al Usaimi.

Among the attractive features of the programme, an investor needs to pay only 25 per cent of his commitment at the time of subscription. In addition, there is no subscription fee.

The remaining balance will be called in stages at the discretion of the investment advisor, Markaz, subject to adequate notice being given to the investor. TradeArabia News Service

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