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Investment Group to steer Sudanese Bank's IPO |
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Established in 1975, AREF Investment Group is a Kuwaiti Shareholding Company, listed on the Kuwait Stock Exchange, with a paid up capital of KD 44 million (USD 153 million). AREF has evolved to seize a significant position amongst the leading Investment Institutions in the region.
The Company's activities include direct investments through its affiliates and subsidiaries in various sectors, such as education, health services and information technology, in addition to its other services in the financial sector, which are portfolio management, asset management corporate finance, funds, real estate investments and consultancies.
During a recent press conference, the bank’s Chairman Saad Al-Wazzan expected the return on capital to reach 14 percent. Aref and other investors, including Kuwait’s International Leasing and Investment Company, own 75 percent of the bank’s capital which was established in 2005. On his part, the bank’s General-Manager Kamal Al-Zubair outlined advantages offered by Sudanese economy as its annually growing by eight percent since the 1990s.
The bank will focus on finance operations by funding major projects, as well as state authorities and companies.
Other activities will include investment funds that will focus on real-estate, infrastructure, industry and agriculture.