Kuwait - Mubasher: EFG Hermes, an EFG Holding, served as a joint global coordinator and joint bookrunner on Action Energy Company’s (AEC) private placement and listing on Boursa Kuwait's Premier Market.
Action Energy Company raised KWD 55 million ($179 million) through a private placement and listing on Boursa Kuwait, according to a press release.
Under the transaction, Action Energy sold 260 million shares, equivalent to 45.90% of its capital, at KWD 212 fils each.
The placement included a primary issuance of 94.50 million new shares and a secondary sale of 165.50 million existing shares.
Meanwhile, the offering was oversubscribed five times, attracting around KWD 276 million ($898 million) in orders from local, regional, and international investors. This implied a post-money market capitalization of KWD 120 million ($391 million).
The offering aimed to diversify AEC’s shareholder base, strengthen governance, and boost visibility with key stakeholders, while supporting balance-sheet improvements and regional growth initiatives.
Karim Meleka, Co-Head of Investment Banking at EFG Hermes, commented, “This transaction underscores Kuwait’s growing appeal to sophisticated investors and highlights the crucial role of strong governance and disciplined capital allocation in unlocking long-term value.
“EFG Hermes is committed to facilitating a transparent, orderly process that provides clear opportunities for investors while reinforcing Kuwait’s strategic energy services sector,” he added.
For his part, Karim Galal, Managing Director, Investment Banking at EFG Hermes, said, “Kuwait is increasingly re-establishing itself as a credible and attractive listing venue, underpinned by improving liquidity, strong institutional participation, and a maturing capital markets framework.”
Established in 2015, Action Energy is a leading Kuwaiti oilfield services provider specializing in rig and well operations that support upstream production and maintenance.
With 20 active rigs in Kuwait, the company delivers safe, reliable execution across key oilfields, helping operators maintain production, improve uptime, and complete projects on schedule.
