Source : AME Info

Url : http://www.ameinfo.com/80220.html

KFG is in the process of applying and obtaining clearance to list on the Kuwait Stock Exchange ('KSE'). KFG through its subsidiaries, operates the franchises of Pizza Hut, Burger King, and Applebee's, some of the most internationally recognizable fast-food and casual dining brands globally as well as Burj Al-Hamam and Kabab-ji, two well recognized regional brands. For the nine months ended September 30, 2005, KFG recorded revenues of KD27.4 million and earnings of KD3.8 million up from KD21.1 million and KD3.1 million for the same period the previous year. As of October 1, 2005, KFG shareholders' equity was KD7.2 million. Saleh Al-Homaizi, KFG's Vice Chairman stated that 'we are pleased with the closure of the private placement, a major step in transforming KFG from a privately held family owned business to a publicly listed company. This will provide KFG with access to equity capital markets and will allow it to diversify the shareholder base and grow the business.' Yann Pavie, Chief Operating Officer and board member of NBK Capital said that 'we are delighted to have closed this landmark transaction which is in-line with NBK Capital's strategy of bringing well established quality companies with proven track records and solid growth potential to market. The KFG offering is even more important considering that we have assisted the Company legally and financially in its transformation into a public shareholding company.'