One of Saudi’s largest privately-owned investment banks, Jadwa Investment has acquired a 35 per cent equity stake in Kuwait’s Gissah Perfumes Company, which is slated for a listing in Riyadh.
Jadwa bought the stake through its private equity arm’s Jadwa Retail Opportunities Fund, the companies said in a joint statement on Wednesday.
The investment will enable Gissah to further solidify its market position and enhance business performance, said CEO of Gissah, Bashar Al-Ameer, in a statement.
The companies did not provide a timeline for Gissah’s planned listing and they did not disclose the value of the investment.
The deal serves to help Gissah prepare the company for a public listing on the Tadawul, said Saudi Arabia’s stock market, Gissah Chairman Faisal Al-Shayji.
The companies did not provide a timeline for Gissah’s listing on the Riyadh bourse.
Established in 2018, the perfume brand operates 80 stores in 25 cities across Saudi Arabia, the UAE, Kuwait and Bahrain.
