Saudi Arabia's Jadwa Investment has acquired a 35pc equity stake in Kuwait's Gissah Perfumes Company, which is slated for a listing in Riyadh, the companies said in a joint statement on Wednesday.
Jadwa, one of the country's largest privately-owned investment banks, bought the stake through its private equity arm's Jadwa Retail Opportunities Fund, the statement said.
The companies did not provide a timeline for Gissah's planned listing and they did not disclose the value of the investment.
The deal will help Gissah prepare the company for a public listing on the Tadawul, Saudi Arabia's stock market, Gissah Chairman Faisal Al-Shayji was quoted as saying.
The companies did not provide a timeline for Gissah's listing on the Riyadh bourse.
Gissah, established in 2018, has 80 stores in 25 cities across Saudi Arabia, Kuwait, the United Arab Emirates and Bahrain.
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