Afkar Holding Company announced that it will officially list its shares on the OTC as it has fulfilled all legal requirement and received all necessary approvals from Boursa Kuwait.
Afkar’s share was listed under code “442”, and may be purchased or sold through regular market mechanisms.
CEO, Mashari Al-Methen, said that the listing decision came on the back of "Afkar Holding Company’s success through its value-added generating operational investments.
Afkar’s most prominent investments is its ownership of two factories operating at full capacity: the first factory covers the food sector through several local and international sales outlets, in addition to offering a variety of products that serve the market's needs. This resulted in achieving exceptional returns. The second factory is specialized in consumer paper products. It is considered one of the best local paper factories. It feeds the local market with its products at competitive prices and high-quality products, positioning it as a top choice for consumers. Our operations are continuously going through development.
He pointed out that one of the most prominent properties and investments of "Afkar" Holding enables it to enter into many promising investments in regional and international markets, its foundation first in Kuwait, and extending to Saudi Arabia, where it owns Hayat water bottling factory, in addition to a factory for welding wires, and a packing factory, through its direct ownership of the Gulf Industrial Development Company. The company invested in the petrochemicals and minerals sector and the development of industrial cities. As for China, the company invested in building materials (cement) sector. It also has an investment arm focused on Asia-Pacific region, with investments in Malaysia, India, Singapore, and finally the industrial services sector in the United States of America.
He also added that the company's strategy is based on taking advantage of industrial opportunities in strategic sectors that are pivotal to the economy. It also aims to expand in the petrochemical industry and related services in the MENA region, in addition to its activities in the services and consumer sectors, where it has the necessary liquidity to achieve further expansions.
Al-Methen explained that “Afkar” was established by Gulf Investment House (GIH) in partnership with a group of strategic investors. The company’s paid up capital is KWD 15.5 million and GIH owns a controlling stake of 51.9%.