Kuwaiti food and beverage producer Mezzan Holding is applying for approval to list on the Kuwait Stock Exchange.

If authorised by the Capital Markets Authority (CMA), the company will list 88.95 million shares, representing 30 per cent of the firm. NBK Capital is arranging the offering.   

Mezzan decided to list on the exchange to widen the company’s shareholder base.

The food producer has presence throughout the Gulf region and has 29 subsidiaries. In 2013, the group recorded revenues of KD141m ($485.12m).

There has been a pick-up in the number of initial public offerings (IPOs) launched in the Gulf this year as the region’s capital markets grow.

National Commercial Bank (NCB) in Saudi Arabia has just launched the subscription period for its $6bn IPO. NCB is the last unlisted bank in Saudi Arabia and the country’s largest bank by assets.