NBK Capital acts as Lead Advisor for the listing of Ikarus Petroleum Industries on the Kuwait Stock Exchange

Ikarus, with an issued paid-up capital of KD75m, is the National Industries Holdings Group’s (NIG) petrochemical investment arm.

Ikarus’ management team has substantial operational background in the petrochemicals field, and its Board of Directors hold leading positions in the energy sector. Ikarus’s current investment portfolio includes two leading petrochemical institutions, “Sipchem” and “Tasnee”.

With a robust balance sheet and a focused investment strategy in the Middle East and North Africa (MENA) region, Ikarus is well positioned for further growth.

Ikarus represents yet another successful listing managed by NBK Capital’s investment banking team working from offices in Kuwait, Dubai and Istanbul. Earlier this year, NBK Capital also managed the hugely successful listing of Jazeera Airways.

Salah Al-Fulaij, CEO of NBK Capital said “ The decision by Ikarus to appoint NBK Capital as their lead advisor demonstrates the trust that our clients have in NBK Capital’s talent and ability to successfully execute the deal.”

“This is the fourth listing we have brought to the Kuwait Stock Exchange in the past year and is increasingly a core competence of our team of experts. Yet again they have demonstrated their ability to deliver the highest quality professional advice to help our clients execute their strategic goals.”

NBK Capital has experienced considerable growth in 2007 and in the first quarter of 2008 as evidenced by its team of 120 professionals. The company strives to become one of the leading investment banks in the region.

Amjad Ahmad, Chief Executive of Investment and Merchant Banking at NBK Capital added: “NBK Capital’s reputation for being able to deliver complex and challenging deals for our clients is growing as we continue to deliver the highest quality services across the region.”