Kamco Investment net profit increases to $33m in 2021

Kamco Investment Co, a regional non-banking financial powerhouse with one of the largest AUMs in the region, has seen its profit increase to $33 million in 2021, compared to $8.3 million the previous year, according to a press release.

The increase in profits was attributed to an increase in fees from asset listings and earnings from associated companies, according to a report by the Kuwait Stock Exchange.

Kamco’s board of directors recommended a cash dividend of 10 fils per share.

The Investment Banking team successfully managed 22 transactions in 2021 worth USD4.8bn and penetrated new markets including Saudi Arabia, Oman, Jordan, and Bahrain besides the previous activity in Kuwait, Egypt, and UAE. The transactions included six Mergers & Acquisitions transactions, six equity capital market transactions, and ten debt transactions.

The team led nine regional bond and sukuk issuances worth USD3.4bn across Kuwait, Saudi, Oman, and Bahrain in addition to a debt advisory transaction worth USD330mn. The team also managed the private placement and listing of a logistics company, rights issues for four listed companies on Boursa Kuwait, sale of a 26.2% equity stake of a listed company, in addition to advising on three buy side mandates in Kuwait and Jordan as well as three sell-side mandates in UAE, USA and Egypt.