KAMCO announces listing of Soor Fuel Marketing Company (SAK) on Kuwait Stock Exchange

Under trading symbol: (SOOR) in English.

The company was first established by Kuwait Petroleum Company (KPC) in 2005 and has a capital of KD30m divided over 300,000,000 shares,

Kuwait Petroleum Company (KPC) contributed in 72,000,000 shares equivalent to 24% of the capital.

The remaining shares were placed on market through initial public offering.

Mr. Mahmoud Ali Al- Sanae, the Managing Director of Soor Fuel Marketing Company, said:

"I would like to express my appreciation to KAMCO for taking on the task of managing the listing of Soor Fuel Marketing Company. KAMCO's experience and professionalism in handling such activities have given me the confidence to entrust this project to them and I am delighted that they are our listing advisor."

"Listing our company on the Kuwait Stock Exchange represents a key milestone in our development and will contribute significantly to the productivity and added value of this services sector. Our team has been able to leverage the extensive expertise of our board of directors and executive management to achieve remarkable results, which have been reflected by our financial statements."

Soor Fuel Marketing Company acquires land in various areas in Kuwait with the intention of establishing and operating fuel stations.

This includes managing the fuel stations and operating customer service centers within the stations, such as supermarkets and car care related services such as oil replacement, car wash, car service and repair centers.

Upon its establishment, the company has acquired over 40 petrol stations located in different places around Kuwait, constituting about one third of petrol marketing stations within Kuwait.

Mr. Saudoun Ali, Chief Executive Officer, KAMCO said: "We are very pleased that KAMCO was appointed as Soor Fuel Marketing's listing advisors to their listing on the Kuwait Stock Exchange."

"We believe that the listing of the company's shares will gain much attention from various investors and the public at large. The company's financial and operational records reflect the organisation's achievements and are a strong indication for expected future growth, both of the company and the fuel marketing sector. Given that the company is one of the leading fuel marketing companies in Kuwait, listing it will be both beneficial to the company and the overall market."

The company's strategic objectives focus on expanding the business and increasing profitability for shareholders as well as enhancing and developing the structure of various stations in Kuwait in order to develop a viable concept for international markets.

Soor Fuel Marketing Company (SAK) was established under the Amiri decree No. 2005/279 that was emanated on 22/11/2005 and officially recognized on 20/03/2006.