Kipco reveals plans to float OSN this year

Middle East investment group Kuwait Projects Co (Kipco) has said it plans to take pay TV operator OSN public within the next few weeks, according to local reports.

Kipco vice-chairman Faisal Al Ayyar told journalists in Kuwait City that market conditions are now right for an IPO and that the process would be kicked off within a few weeks. He said that Kipco expects to complete the IPO by the end of the third quarter or early in the fourth quarter of this year.

Al Ayyar reportedly indicated that Kipco, which owns 60.5% of OSN, is leaning towards a London listing for the company, which investment bank Arqaan has valued at US$4.3 billion.